Commentary

E1.708 Foster-care and other qualifying care relief—overlap profit

Personal and employment tax

E1.708 Foster-care and other qualifying care relief—overlap profit

E1.708 Foster-care and other qualifying care relief—overlap profit

If the profits or losses of a trade for a tax year are calculated in accordance with provisions1 in the qualifying care relief legislation, relief is allowed for overlap profit2 against qualifying care profits so calculated3. That may include relief for overlap profit that was created before the introduction of foster-care relief. If qualifying care profits are treated as nil (because full qualifying care relief applies), the overlap relief can create a loss4.

Overlap profit may be created when the qualifying care alternative basis applies5 (no overlap profit can be created when full

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