Income and Corporation Taxes Act 1988

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Income and Corporation Taxes Act 1988
United Kingdom Parliament
Long title:	An Act to consolidate certain of the enactments relating to income tax and corporation tax, including certain enactments relating also to capital gains tax; and to repeal as obsolete section 339(1) of the Income and Corporation Taxes Act 1970 and paragraphs 3 and 4 of Schedule 11 to the Finance Act 1980.
Statute book chapter:	1988 c. 1
Introduced by:
Territorial extent:	Whole United Kingdom
Dates
Date of Royal Assent:	9 February 1988
Commencement:	For personal taxation tax year 1988-1989 and after For corporation taxation company accounting periods ending after 5 April 1988 Except ss. 96, 380 to 384, 393, 394, 400, 703 and 812
Other legislation
Amendments:
Related legislation:
Status: Substantially amended
Acts of Parliament of predecessor states to the United Kingdom
Acts of Parliament of the Kingdom of England to 1601 Acts of Parliament of the Kingdom of England to 1706 Acts of Parliament of the Kingdom of Scotland Acts of Parliament of the Kingdom of Ireland
Acts of Parliament of the United Kingdom
1707–1719 \| 1720–1739 \| 1740–1759 \| 1760–1779 1780–1800 \| 1801–1819 \| 1820–1839 \| 1840–1859 1860–1879 \| 1880–1899 \| 1900–1919 \| 1920–1939 1940–1959 \| 1960–1979 \| 1980–1999 \| 2000–Present
Acts of the Scottish Parliament
Acts of the Northern Ireland Parliament
Acts of the Northern Ireland Assembly
Orders in Council for Northern Ireland
United Kingdom Statutory Instruments
Church of England Measures

The Income and Corporation Taxes Act 1988, also known as ICTA, is the foremost United Kingdom Act of Parliament, concerned with the taxation of individuals under income tax and companies under corporation tax.

ICTA is regularly amended by the Finance_Act passed annually by the Parliament, enacting the proposals contained in the Budget.

Following the tax law rewrite project, sections relating to taxation of individuals have been substituted by the Income Tax (Trading and Other Income) Act 2005 and the Income Tax (Earnings and Pensions) Act 2003. These Acts have abolished the schedular system of taxation for individuals.

ICTA still uses the schedular system of taxation for assessment of companies under corporation tax.