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Legislation

Income Tax (Trading and Other Income) Act 2005

Crossheading Charge to tax on trade profits

Find in this level

Section 5 Charge to tax on trade profits
Section 6 Territorial scope of charge to tax
Section 6A Arrangements for avoiding tax
Section 6B Trade of dealing in or developing UK land
Section 7 Income charged
Section 7A Apportionment etc of profits to tax year
Section 7B Rule if trader starts to carry on trade after 31 March
Section 7C Rule if there is a late accounting date
Section 7D Election to disapply late accounting date rules
Section 8 Person liable

Income Tax (Trading and Other Income) Act 2005
Charge to tax on trade profits

Section 5 | Charge to tax on trade profits

From legislation.gov.uk

15 July 2026

Income tax is charged on the profits of a trade, profession or vocation.

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