Regulation 4 Income from a business

This regulation applies to income from any business (including any trade, profession or vocation) carried on by the tenant, whether or not with any other person.

The amount to be taken into account as the tenant’s annual income from the business is an amount which, having regard to the latest available information, fairly represents the current annual net pre-tax profit of the business or, if the tenant shares the net profit with any other person, his share of the net pre-tax profit.