{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-688",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-688.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/688",
  "kind": "section",
  "number": "688",
  "heading": "Income charged",
  "text": "(1) Tax is charged under this Chapter on the ... amount of the income arising in the tax year.\n(2) Subsection (1) is subject to—\n(za) Chapter 1 of Part 6A (which gives relief on relevant income which may consist of or include income chargeable under this Chapter: see, in particular, sections 783AB, 783AC, 783AG and 783AJ),\n(a) Chapter 1 of Part 7 (which provides relief on income from the use of furnished accommodation in an individual's only or main residence: see, in particular, sections 794 and 798),\n(b) Chapter 2 of that Part (which provides relief on income from the provision by an individual of qualifying care: see, in particular, sections 814 and 817), and\n(c) Part 8 (foreign income: special rules).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in s. 688(1) omitted (with effect in accordance with s. 34(2) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 12 para. 22"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 688(2)(za) inserted (16.11.2017) (with effect in accordance with Sch. 3 para. 13 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 3 para. 9"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 688(2)(b) substituted (16.12.2010) (with effect in accordance with Sch. 1 para. 36 of the amending Act) by Finance (No. 3) Act 2010 (c. 33), Sch. 1 para. 33 (with Sch. 1 para. 37)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "S. 688(1) excluded (1.12.2009) (with effect in accordance with art. 1(2)(3) Sch. 1 of the amending S.I.) by The Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), regs. 1(1), 18(3)"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "Pt. 5 Ch. 8 applied in part (1.12.2009) (with effect in accordance with art. 1(2)(3) Sch. 1 of the amending S.I.) by The Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), regs. 1(1), 97(2)"
    },
    {
      "type": "C",
      "label": "C3",
      "text": "Pt. 5 Ch. 8 applied in part (1.12.2009) (with effect in accordance with art. 1(2)(3) Sch. 1 of the amending S.I.) by The Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), regs. 1(1), 96(3)(b)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/section/688",
    "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."
}