# Income and Corporation Taxes Act 1988, Paragraph 10: Effect of later adjustment of profits

Extent: E+W+S+N.I.

(1) If after the taxpayer has made an averaging claim, his relevant profits in either or both of the tax years to which the claim relates are adjusted for some other reason—
(a) the averaging claim shall be disregarded, and
(b) a further averaging claim may be made in relation to the taxpayer’s relevant profits as adjusted.
(2) A further averaging claim is not out of time provided it is made not later than twelve months after the 31st January next following the tax year in which the adjustment for the other reason is made.

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/4A/paragraph/10 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-4A/paragraph-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.