Commentary on Sections Overview Section 532: Exemption for savings and investment income
1608.This section sets out the various categories of savings and investment income that qualify for exemption from income tax, provided the income is applied to charitable purposes. It is based on section 505(1) of ICTA.
1609.The precise terms of the section draw significantly on the consequential amendments made to section 505 of ICTA by ITTOIA.
1610.In subsection (1), the reference to Act includes references to Acts of the Scottish Parliament and Northern Ireland legislation. See Change 152 in Annex 1, section 1018 and the commentary on that section.