Part 3Property income
Chapter 3Profits of property businesses: basic rules
Apportionment of profits
275Apportionment etc. of profits to tax year
1
2
Any of the following steps may be taken if they are necessary in order to arrive at the profits or losses of the tax year—
a
apportioning the profits or losses of a period of account to the parts of that period falling in different tax years, and
b
adding the profits or losses of a period of account (or part of a period) to profits or losses of other periods of account (or parts).
3
The steps must be taken by reference to the number of days in the periods concerned.
4
But the person carrying on the business may use a different way of measuring the length of the periods concerned if—
a
it is reasonable to do so, and
b
the way of measuring the length of periods is used consistently for the purposes of the business.