PSI2.3.1 - Taxation Background: Chapter I Part XIV ICTA 88 - General

(This archived guidance relates to HMRC discretionary practice before the 6th April 2006. For current guidance on Registered Pension Schemes see the Registered Pension Schemes Manual)

This section summarises the legislation which we administer and gives some explanatory comments on particular parts of that legislation. The current legislation is mainly contained in sections 590-612 and Schedules 22 and 23 ICTA 88 (formerly sections 19-26 and Schedule 5 Finance Act 1970). The Act consolidates into one volume previous enactments relating to Income Tax and Corporation Tax. ICTA 88 received Royal Assent on 9 February 1988 and came into force for the year 1988/89 and subsequent years of assessment, and for companies accounting periods ending after 5 April 1988.

Finance Act 1989 and subsequent Finance Acts introduced further sections into ICTA 1988 and amended or repealed other sections.

Full copies of ICTA 88 are available in Section libraries. Extracts covering the main provisions with marginal notes to show the origin legislation have been issued to Examiners(D) and above.