Commentary on Sections Example 3 Ne = £5,000; Da = 183; De = 183; Smg = 0 Section 621: Taxable pension income
2468.This section deals with the basis of assessment. It identifies the amount of taxable pension income, which feeds into the computation of net taxable pension income in section 567.
2469.The section derives from section 613(3) of ICTA and makes it clear that tax is charged on the full amount paid in the tax year.