Regulation 3

in paragraph (3) for “20” substitute “6.5”;

for paragraph (4) substitute—

“(4)

For the purpose of paragraphs (2) and (3) the contribution year of a person is his first contribution year and then each period of 12 months beginning on 1st April.”;

for paragraph (5) substitute—

“(5)

The reference in paragraph (4) to the first contribution year of a person is a reference to the period beginning with his effective date of registration and ending on the day immediately preceding the first day of the next contribution year.”;

for paragraphs (6) and (6A) substitute—

“(6)

Where one contribution year ends and another contribution year begins in an accounting period, the amount of any qualifying contribution which, by virtue of paragraph (2), is treated as made in that period shall be apportioned, in accordance with paragraph (6A), between those contribution years.

(6A)

The apportionment shall be on the basis of either—

(a)

the number of days of the accounting period that fall before 1st April and the number of days that fall on and after that day; or

(b)

the amount of tax charged on taxable disposals made in the accounting period before 1st April and the amount of tax charged on taxable disposals made in that period on and after that day,

whichever the registered person may choose.”.

omit paragraphs (6B) to (6E).