INTM165170 - UK residents with foreign income or gains: income tax: 1996/97 actual basis
Where the assessment for 1996-97 is based on the income of the year ended 5 April 1997, no averaging of profits is required. Similarly, it will not be necessary to average the foreign source component of those profits or the foreign tax paid. »Ê¹ÚÌåÓýapp whole of the foreign tax paid in the basis period will be eligible for relief in 1996-97, subject to the usual rules in INTM161010 onwards.