Paragraph 62
(1)
This paragraph applies if—
(a)
a period of account of a property business begins before 6th April 2005 and ends on or after that date, and
(b)
in order to arrive at the profits or losses of a tax year before the tax year 2005-06 it is necessary to apportion the profits or losses of the period of account to any part of that period falling in a tax year before the tax year 2005-06.
(2)
The profits or losses of the period of account—
(a)
are calculated in accordance with Part 3 of this Act (and therefore, to that extent, that Part has effect for tax years before the tax year 2005-06), and
(b)
may be apportioned in accordance with section 275 to any part of the period of account falling in a tax year before the tax year 2005-06.