{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-623",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-623.json",
  "legislation": "ukpga/2005/5",
  "legislation_title": "Income Tax (Trading and Other Income) Act 2005",
  "legislation_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005",
  "path": "section/623",
  "kind": "section",
  "number": "623",
  "heading": "Calculation of income",
  "text": "(1) This section applies for the purpose of calculating the liability to tax of an individual charged under this Chapter.\n(2) The same deductions and reliefs are allowed as would have been allowed if the amount treated as the individual's income as a result of this Chapter had been received by the individual as income.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "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)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/section/623",
    "retrieved_at": "2026-10-29T09:16:32.370392+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}