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580Income charged under section 579

(1)    Tax is charged under section 579 on the full amount of the income arising in the tax year.

(2)    Subsection (1) is subject to Part 8 (foreign income: special rules).

(3)    See section 582 for provision about the calculation of the amount of income charged under section 579.

(4)    This section needs to be read with section 527 of ICTA (spreading of patent royalties etc over several years).

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.
Foreign Income92 Miscellaneous Income92 Income Tax Allowances, Deductions & Reliefs93 Company Law & Business Entities92 Companies & Corporate Bodies92 Income Tax92 Trading Income95 International Tax99 Tax Law92 Exempt Income92 Personal Taxes95 Overseas Elements of Income Tax99

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