Section 681DM Capital sumF1
For the purposes of this Chapter a capital sum is any sum of money, or any money's worth, except so far as it or any part of it—
is to be treated for income tax purposes as a receipt to be taken into account in calculating the profits or losses of a trade, profession or vocation, or
is (apart from this Chapter) chargeable to income tax under or by virtue of any provision to which section 1016 applies.
Annotations
Textual amendments
- F1
Pt. 12A Ch. 4 inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 4 para. 5 (with Sch. 9 paras. 1-9, 22)
Notes on Part 12A
Textual amendments
- F1
Pt. 12A inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 4 para. 2 (with Sch. 9 paras. 1-9, 22)