Income from business or profession
17.—(1) Sub-paragraph (2) applies where—
(a)the applicable financial year for the purposes of calculating P’s residual income is PY-1, and
(b)the Welsh Ministers are satisfied that P’s income is wholly or mainly derived from the profits of a business or profession carried on by P.
(2) Where this paragraph applies, P’s residual income is P’s income for the earliest period of twelve months ending in PY-1 in respect of which accounts are kept relating to P’s business or profession.