Commentary on Sections Part 10: Miscellaneous income Chapter 9: Priority rules Section 982: Provisions which must be given priority over this Part
2510.This section determines which Part takes priority in the event of an overlap of the charge on the profits of a trade or the profits of a UK property business and a charge under a Chapter of this Part. It is based on section 18(1), (2) and (3) of ICTA. The corresponding rules for income tax are in section 261 of ITTOIA.
2511.In the case of such an overlap, priority is given to the charge under Part 3 (trading income) or Part 4 (property income), as the case may be.
2512.Subsection (1) gives statutory effect to the Crown Option as regards the overlap between income charged under another Case of Schedule D and income of a United Kingdom trade charged under Schedule D Case I. See Change 55 in Annex 1.
2513.Subsection (2) is based on the definition of the Cases of Schedule D in section 18 of ICTA so far as it gives priority to the charge under Schedule A.