# Income Tax Act 2007, Section 681DM: Capital sum


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—
(a) 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
(b) is (apart from this Chapter) chargeable to income tax under or by virtue of any provision to which section 1016 applies.

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/681DM (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-681DM
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.