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 2 U.K.[F2 qualifying care relief]

Textual Amendments

F2 Pt. 7 Ch. 2 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. 29 (with Sch. 1 para. 37)

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

815 Alternative calculation of profits: introduction U.K.

Sections 816 and 817 (which provide for an alternative method of calculating profits) apply if—

(a) an individual qualifies for [F3 qualifying care] relief for a tax year,

(b) the individual's total [F4 qualifying care] receipts for the tax year exceed the individual's limit for the tax year,

(c) sections 822 and 823 do not apply (accounting date for trade not 5th April), and

(d) an election by the individual has effect to apply the alternative method of calculating profits for the tax year (see sections 818 and 819).

Textual Amendments

F3 Words in s. 815(a) 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. 16 (with Sch. 1 para. 37)

F4 Words in s. 815(b) 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. 16 (with Sch. 1 para. 37)