Commentary on Sections Overview Overview
34.This Chapter sets out all the rates of income tax and provides rules about the rates of tax at which income is charged. It is based on sections 1, 1A, 1B and 686(1A) of ICTA.
35.Two main principles are at work:
	first, the rate of tax depends on the type of income concerned; and
	second, income may be subject to progressively higher rates of tax depending on the overall amount of income of the person concerned.
36.The second principle applies only to individuals (subject to a special rule about the first £1,000 of trustees’ trust rate income in Chapter 6 of Part 9 of this Act).