Section 229 Income charged

United Kingdom

(1)

Tax is charged under this Chapter on the full amount of any adjustment income arising in the tax year.

(2)

This is subject to—

(a)

F1sections 237 to 239B (which provide for spreading of adjustment income), and

(b)

Part 8 (foreign income: special rules).

Annotations

F1: Words in s. 229(2)(a) substituted (with effect in accordance with Sch. 4 paras. 56, 57 of the amending Act) by Finance Act 2013 (c. 29), Sch. 4 para. 52(2)