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

Part 7 U.K. Income charged under this Act: rent-a-room and [F1 qualifying care] relief

Textual Amendments

F1 Words in Pt. 7 heading substituted (16.12.2010) (with effect in accordance with Sch. 1 para. 36 of the amending Act) by Finance (No. 3) Act 2010 (c. 33), Sch. 1 para. 34 (with Sch. 1 para. 37)

Chapter 1 U.K. Rent-a-room relief

Alternative calculation of profits if amount exceeds limit U.K.

795 Alternative calculation of profits: introduction U.K.

Sections 796 to 798 (which provide for alternative methods of calculating profits) apply if—

(a) an individual qualifies for rent-a-room relief for a tax year,

(b) the individual's total rent-a-room amount for the tax year exceeds the individual's limit for the tax year, and

(c) an election by the individual under section 800 has effect to apply the alternative method of calculating profits for the tax year.