# Income Tax (Trading and Other Income) Act 2005, Section 7: Income charged

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

(1) Tax is charged under this Chapter on the full amount of the profits of the tax year (including amounts treated as profits of the tax year under section 23E(1) , section 23I or section 23M).
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) This section is subject to Part 8 (foreign income: special rules).
(5) And, for the purposes of section 830 (meaning of “relevant foreign income”), the profits of a trade, profession or vocation arise from a source outside the United Kingdom only if the trade, profession or vocation is carried on wholly outside the United Kingdom.

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/7 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.