Finance (No.2) Act 2023

Amendment of section 238 of Principal Act (annual payments not payable out of taxed income)

26. Section 238 of the Principal Act is amended by the substitution of the following subsection for subsection (7):

“(7) Except where provided by subsections (1) and (1B) of section 1041, this section shall not apply to any rents or other sums in respect of which the person entitled to them is chargeable to tax under Case V of Schedule D or would be so chargeable but for any exemption from tax.”.