Commentary

B6.606 Election for the alternative method

Business tax
Business tax | Commentary

B6.606 Election for the alternative method

Business tax | Commentary

B6.606 Election for the alternative method

The election for the alternative method of calculating profits (see B6.605) must specify the tax year to which it relates and it will then have effect for the specified year and for subsequent years (unless it is withdrawn by notice given by the individual)1.

HMRC's Property Income Manual states that there is no special form for the election. If the taxpayer's tax return is made on the basis of the alternative method, that may be taken as an election2.

Both the election and any notice of withdrawal must be made to HMRC by the first anniversary

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