SI 2019/1452 - The Income Tax (Trading and Other Income) Act 2005 (Amendments to Chapter 2A of Part 5) Regulations 2019

Released 04 November 2019

SI 2019/1452 amends ITTOIA 2005, Pt. 5, Ch. 2A concerning offshore receipts in respect of intangible property with retrospective effect from 6 April 2019.

The Income Tax (Trading and Other Income) Act 2005 (Amendments to Chapter 2A of Part 5) Regulations 2019 amend the Income Tax (Trading and Other Income) Act 2005 (ITTOIA 2005), Pt. 5, Ch. 2A concerning offshore receipts in respect of intangible property, which was inserted by the Finance Act 2019 (FA 2019), s. 15 and Sch. 3. The regulations further make a consequential amendment to the Income Tax Act 2007, Pt. 15 by inserting a new s. 981A into that Act. The amendments to ITTOIA 2005, Pt. 5, Ch. 2A have retrospective effect for the tax year from 6 April 2019 by virtue of FA 2019, Sch. 3, para. 11 and 12. The regulations came into force on 5 November 2019.

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