The Tax Credits (Miscellaneous Amendments) Regulations 2006 No. 766

Amendment of the Tax Credits (Definition and Calculation of Income) Regulations 2002

11.—(1) Regulation 6 (trading income) is amended as follows.

(2) For the second sentence substitute—

“Here “taxable profits” has the same meaning as it has in Part 2 of ITTOIA but disregarding Chapter 16 of that Part (averaging profits of farmers and creative artists).”.