Section 31 Total income: supplementary

United Kingdom

(1)

This section applies for the purposes of calculating total income.

(2)

Income from which a deduction in respect of income tax is to be made (or treated as made) at the basic F1rate F2, F3the property basic rate, the savings basic rate, the Welsh basic rate F4or the Scottish basic rate F5... in force for a tax year is treated as income of that tax year.

F6(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

F7Subsection (2) applies even if all or part of the income, or the dividend or other distribution, accrued or will accrue in a different tax year.

(5)

An assessment that has become final and conclusive for income tax purposes for a tax year is also final and conclusive for the purposes of calculating total income.

Annotations

Textual amendments

F1: Word in s. 31(2) inserted (with effect in accordance with s. 11(12) of the amending Act) by Finance Act 2014 (c. 26), s. 11(4)
F2: Words in s. 31(2) inserted (with effect in accordance with art. 1(2) of the amending S.I.) by The Devolved Income Tax Rates (Consequential Amendments) Order 2019 (S.I. 2019/201), arts. 1(1), 12(5)
F3: Words in s. 31(2) inserted (for the tax year 2027-28 and subsequent tax years) by Finance Act 2026 (c. 11), s. 6(8), Sch. 1 para. 18
F4: Words in s. 31(2) inserted (with effect in accordance with art. 1(2) of the amending S.I.) by The Scottish Rate of Income Tax (Consequential Amendments) Order 2015 (S.I. 2015/1810), arts. 1(1), 14(2)
F5: Words in s. 31(2) omitted (21.7.2008 with effect in accordance with Sch. 1 para. 65 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 1 para. 12
F6: S. 31(3) omitted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 63(3)(a)
F7: Words in s. 31(4) substituted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by Finance Act 2016 (c. 24), Sch. 1 para. 63(3)(b)