Schedule D


Schedule D
the provision under which the Inland Revenue taxes annual profits or gains that fall under one or other of six cases. Case 1 deals with profits from a trade or an adventure in the nature of a trade; Case II deals with profits from a profession or vocation (the rules as to the computation of profits under Case I and II are the same); Case III covers interest, annuities and other annual payments and certain public revenue dividends (e.g. in respect of securities issued by UK local authorities) not covered by schedule C; Case IV covers profits or gains from securities outside the UK; Case V covers profits or gains from possessions outside the UK; Case VI taxes any annual profits or gains not falling under any other case or schedule.

Collins dictionary of law. . 2001.


Schedule D
In the UK income tax is charged on income falling within certain categories, which were previously known as Schedules. The profits of trades, professions or vocations were, until 6 April 2005, subject to income tax under Schedule D of the Income and Corporation Taxes Act 1988. They are now taxable under Part 2 of the Income Tax (Trading and Other Income) Act 2005.
Related links
Part 2 of the Income Tax (Trading and Other Income) Act 2005

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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