Income Tax (Trading and Other Income) Act 2005

810Share of fixed amount: income period not a year
This section has no associated Explanatory Notes

(1)This section applies if in a tax year an individual’s income period for the individual’s foster-care receipts is a period other than a year.

(2)The individual’s share of the fixed amount for the tax year is—

Formual - (AS multiplied by D) divided by 365

where—

  • AS is the fixed amount or (if section 809 applies) the individual’s share of the fixed amount, and

  • D is the number of days in the individual’s income period.