Schedule 2: Transitionals and savings etc. Part 3: Trading income Paragraph 55: Averaging profits of farmers and creative artists
3556.This transitional provision relates to Change 60 in Annex 1. It preserves a taxpayer’s right (if one exists under ICTA) to claim averaging for 2004-05 and 2005-06 even if one of those years is the year in which the taxpayer starts or ceases to carry on the trade, profession or vocation.