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244Income charged

(1)    Tax is charged under this Chapter on the full amount of the receipts received in the tax year.

(2)    This is subject to—

(a)    sections 254 and 255 (allowable deductions), and

(b)    section 257 (election to carry back).

NOTES
Initial Commencement
Specified date

This Act comes into force on 6 April 2005 and has effect, for the purposes of income tax for the year 2005–06 and subsequent tax years, and for the purposes of corporation tax for accounting periods ending after 5 April 2005: see s 883; for transitional provisions and savings see Sch 2 hereto.
Income Tax Allowances, Deductions & Reliefs95 Company Law & Business Entities92 Personal Taxes94 Companies & Corporate Bodies92 Income Tax95 Trading Income94 Tax Law95

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