# Income Tax (Trading and Other Income) Act 2005, Section 684: Income charged

Extent: E+W+S+N.I.

(1) Tax is charged under this Chapter on the full amount of the annual payments arising in the tax year.
(2) Subsection (1) is subject to Part 8 (foreign income: special rules).
(3) The amount charged under this Chapter in the case of certain payments made by trustees in the exercise of a discretion is subject to section 494 of ITA 2007(grossing up of discretionary payments from trusts).

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/684 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-684
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.