# Income Tax (Trading and Other Income) Act 2005, 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.

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Source: https://www.legislation.gov.uk/ukpga/2005/5/schedule/2/paragraph/62 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/schedule-2/paragraph-62
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.