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Link to original content: http://www.legislation.gov.uk/ukpga/2005/5/notes/division/5/7/2/15/data.xht

Explanatory Notes

Income Tax (Trading and Other Income) Act 2005

2005 CHAPTER 5

24 March 2005

Commentary on Sections

Part 7: Income charged under this Act: rent-a-room and foster-care relief

Chapter 2: Foster-care relief
Section 816: Alternative calculation of profits: trading income

3028.This section sets out the basis of calculation when the foster-care income is trading income and it exceeds the individual’s limit. It is based on paragraph 12 of Schedule 36 to FA 2003.