Income and Corporation Taxes Act 1988

"ICTA" redirects here. For other uses, see ICTA (disambiguation).

The Income and Corporation Taxes Act 1988, also known as ICTA, was the foremost United Kingdom Act of Parliament concerned with taxation until the Income Tax Act 2007 and the Corporation Tax Act 2010. ICTA was enacted in order to consolidate a number of earlier legislative provisions covering taxation. Originally, ICTA primarily covered income tax (paid principally by individuals) and corporation tax (paid principally by companies).

Amendments

Following the Tax Law Rewrite Project, sections relating to income tax have been substituted by the Income Tax (Earnings and Pensions) Act 2003, the Income Tax (Trading and Other Income) Act 2005 and the Income Tax Act 2007. Notably, these Acts have abolished the schedular system of taxation for income tax; however, the schedular system still applies for the purposes of corporation tax.

ICTA has also been frequently amended by the Finance Acts that are enacted annually in the UK.

See also

• UK Pension Provision
• List of Acts of Parliament of the United Kingdom Parliament, 1980-1999
• Taxation of Chargeable Gains Act 1992
• Capital Allowances Act 2001
• Income Tax (Earnings and Pensions) Act 2003
• Income Tax (Trading and Other Income) Act 2005
• Income Tax Act 2007

• Umbrella company
• UK labour law
• UK tax law

External links

• Text of the Income and Corporation Taxes Act 1988 as in force today (including any amendments) within the United Kingdom, from the UK Statute Law Database