25 Reliefs and allowances deductible at Steps 2 and 3: supplementary
Income Tax Act 2007 (2007 c 3) | Legislation

25  Reliefs and allowances deductible at Steps 2 and 3: supplementary

(1)     This section supplements the provisions about reliefs and allowances in Steps 2 and 3 of the calculation in section 23.

(2)     At Steps 2 and 3, deduct the reliefs and allowances in the way which will result in the greatest reduction in the taxpayer's liability to income tax.

(3)     Subsection (2) is subject to—

section 65(2) to (4) (priority rule in relation to trade loss relief against general income),

section 80(2) (ring fence income),

section 83(3) and (4) (carry-forward

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

VAT definition

LEXISNEXIS

Fiduciary Duties

Fiduciary DutiesWho is a fiduciary?There is no comprehensive list of the relationships which give rise to the existence of fiduciary duties under common law. Some relationships are automatically fiduciary, eg those between trustee and beneficiary, solicitor and client, principal and agent, business

LEXISNEXIS

Control of asbestos—duty to manage

The Control of Asbestos Regulations 2012 (CAR 2012) place various duties on employers to protect employees from risks related to exposure to asbestos and make it clear that these duties, so far as is reasonably practicable, are also owed to any other person, whether at work or not, who may be

LEXISNEXIS

Legal Services Board

Legal Services BoardThe Legal Services Board (LSB) is the single independent oversight regulator of the legal profession and sector in England and Wales. It does not directly regulate individual lawyers and, in most circumstances, will not directly regulate firms.Mandate and structureThe LSB is the