»Ê¹ÚÌåÓýapp

Receipts from change of basis of computing taxable profits do not qualify for the trading allowance as they are not chargeable under Chapter 2 Part 2 ITTOIA 2005. »Ê¹ÚÌåÓýapprefore, the trading allowance cannot be used to reduce an individual’s charge to tax on adjustment income.

More information on adjustment income can be found from BIM34090 to BIM34135 inclusive.