225Effect of later adjustment of profitsU.K.
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Nodiadau Esboniadol
(1)This section applies if, after the taxpayer has made an averaging claim, the relevant profits in [F1any one or more] of the tax years to which the claim relates are adjusted for another reason.
(2)The averaging claim is ignored.
(3)But this does not prevent a further averaging claim from being made in relation to the taxpayer's profits as adjusted for the other reason.
(4)A further averaging claim is not out of time as long as it is made on or before the first anniversary of the normal self-assessment filing date for the tax year in which the adjustment for the other reason is made.
Textual Amendments
F1Words in s. 225(1) substituted (with effect in accordance with s. 25(12) of the amending Act) by Finance Act 2016 (c. 24), s. 25(7)