ITTOIA 2005 - the new income tax code

Article by Keith Gordon, CIOT representative on the Tax Law Rewrite Consultative Committee. The views expressed in this article, however, are not necessarily those of the CIOT or the TLR Project. This article appeared in the April 2005 issue of Tax Adviser. By the time this article is published (assuming that the pre-election Parliamentary log-jam is cleared) the writer assumes there will be a new statute in force dealing with assessable income for the purposes of income tax. Readers will be aware that Sch E was abolished two years ago under ITEPA 2003. Now, with the publication of its third act, the Tax Law Rewrite Project has made further inroads in rewriting the income tax code.

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