2 Overview of Act
Income Tax Act 2007 (2007 c 3) | Legislation

2  Overview of Act

(1)     This Act has 17 Parts.

(2)     Part 2 contains basic provisions about income tax including—

(a)     provision about the annual nature of income tax (Chapter 1),

(b)     the rates at which income tax is charged (Chapter 2), and

(c)     the calculation of income tax liability (Chapter 3).

(3)     Part 3 is about taxpayers' personal reliefs including—

(a)     personal allowances (Chapter 2),

(b)     blind persons' allowances (Chapter 2), and

(c)     tax reductions for married couples and civil partners (Chapter 3).

(4)     Part 4 is about loss relief including relief for—

(a)     trade losses (Chapters 2 and 3),

(b)     losses from property businesses (Chapter 4),

(c)     losses in an employment or office (Chapter 5),

(d)     losses on disposal of shares (Chapter 6), and

(e)     losses from miscellaneous transactions (Chapter 7).

(5)     Part 5 is about relief under the enterprise investment

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