Income Tax (Trading and Other Income) Act 2005 (c. 5)

[F1 PART 6A U.K. Income charged under this Act: trading and property allowances

Textual Amendments

F1 Pt. 6A inserted (16.11.2017) (with effect in accordance with Sch. 3 para. 13 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 3 para. 1

CHAPTER 1 U.K. Trading allowance

Elections U.K.

783AL Election for full relief not to be given U.K.

(1) An individual may elect not to be given full relief for a tax year (see sections 783AF and 783AG).

(2) An election must be made on or before the first anniversary of the normal self-assessment filing date for the tax year for which the election is made.

783AM Election for partial relief U.K.

(1) An individual may elect for partial relief to be given for a tax year if the individual's relevant income for the tax year exceeds the individual's trading allowance for the tax year (see sections 783AI and 783AJ).

(2) An election must be made on or before the first anniversary of the normal self-assessment filing date for the tax year for which the election is made.]