Paragraph 17 Income from business or professionI1
England and Wales
(1)
Sub-paragraph (2) applies where—
(a)
the applicable financial year for the purposes of calculating P's residual income is PY-1, and
(b)
the Welsh Ministers are satisfied that P's income is wholly or mainly derived from the profits of a business or profession carried on by P.
(2)
Where this paragraph applies, P's residual income is P's income for the earliest period of twelve months ending in PY-1 in respect of which accounts are kept relating to P's business or profession.
Annotations
Commencement
- I1
Sch. 3 para. 17 in force at 27.5.2019, see reg. 1(2)