Income Tax (Trading and Other Income) Act 2005

816Alternative calculation of profits: trading incomeU.K.
This section has no associated Explanatory Notes

(1)This section applies if the individual's foster-care receipts for the tax year are the receipts of a trade.

(2)The profits of the trade for the tax year are—

(a)the individual's total foster-care receipts for the tax year, less

(b)the individual's limit for the tax year.