Section 623 Calculation of income
United Kingdom
This section applies for the purpose of calculating the liability to tax of F1an individual charged under this Chapter.
The same deductions and reliefs are allowed as would have been allowed if the amount treated as F2the individual's income as a result of this Chapter had been received by the individual as income.
Annotations
Textual amendments
- F1
Words in s. 623 substituted (with effect in accordance with Sch. 10 para. 21 of the amending Act) by Finance Act 2018 (c. 3), Sch. 10 para. 7(a)
- F2
Words in s. 623 substituted (with effect in accordance with Sch. 10 para. 21 of the amending Act) by virtue of Finance Act 2018 (c. 3), Sch. 10 para. 7(b)
Notes on Chapter 5
Textual amendments
- F1
Words in Pt. 5 Ch. 5 heading inserted (with effect in accordance with Sch. 10 para. 21 of the amending Act) by Finance Act 2018 (c. 3), Sch. 10 para. 3(2)