Commentary on Sections Overview Overview Section 28: Order of deducting tax reductions: other persons
120.This section provides rules about the order in which tax reductions are to be given for persons other than individuals. It is based on sections 790(3) and 796(1) of ICTA and sections 26 and 27(1) of FA 2005.
121.There are fewer tax reductions available than for individuals, so the rules are less complex. Subsection (2) corresponds to section 27(2) in providing a new rule that the reductions are allowed in the way that gives the greatest reduction in liability. See Change 4 in Annex 1 and the commentary on section 27.
122.Subsection (5) is a special rule concerning the tax reduction given to certain trustees under section 26 of FA 2005.