What is the primary legislation governing income tax in the UK?

The primary legislation governing income tax in the UK is the Income Tax Act 2007. This Act consolidates previous income tax laws, codifying the provisions that dictate how income tax is assessed and collected from individuals and businesses. It lays down the framework for determining taxable income, allowable deductions, and the rates of tax applicable.

The Income Tax Act 2007 serves as the cornerstone for income tax legislation, establishing the legal basis for income taxation in the UK. While the other acts mentioned have their significance, they do not serve as the principal statute for income tax.

The Finance Acts, including the Finance Act 2022, usually introduce changes to tax rates and new tax measures each fiscal year but do not serve as the foundational legislation for income tax. Meanwhile, the Companies Act 2006 focuses on company law rather than taxation, and the Taxation (Cross-border Trade) Act 2018 addresses customs and trade laws, which are distinct from income tax legislation. Thus, the Income Tax Act 2007 is correctly identified as the primary legislation governing income tax in the UK.