E1.511B Miscellaneous income, sweep-up provisions
The provisions at ITTOIA 2005, s 687 provide a general charging provision for income not taxed elsewhere. It is a wide provision but is not without limitations1.
The statutory provisions
ITTOIA 2005, s 687 provides that :
'Income tax is charged under this Chapter on income from any source that is not charged to income tax under or as a result of any other provision of this Act or any other Act.'
This is subject to limited exceptions, and has been subject to interpretation by the courts, as considered below. The definition of income is not restricted to that used within ITTOIA 20052.
General approach to identifying miscellaneous income
The boundaries of s 687 have been considered by the courts, and a general approach to the question of whether a receipt is taxable under the provisions has been established in case law3.
For a receipt to be chargeable as miscellaneous income, it must:
- Ìý
•ÌýÌýÌýÌý have the nature of annual profits. This implies
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 16:53