Regulation 9 Savings for the purpose of making a return of relevant profits (Great Britain)

After section 11 of the Social Security Contributions and Benefits Act 1992^f1 (Class 2 contributions) insert—

“Relevant profits to be included in self assessment tax return

11A

(1)

Part 2 (returns) of the Taxes Management Act 1970^f2 applies, with the necessary modifications, for the purpose of establishing whether an earner has relevant profits of, or exceeding, the small profits threshold for a tax year, as it applies for the purpose of establishing the amounts in which a person is chargeable to income tax and capital gains tax for a year of assessment.

(2)

In this section “relevant profits” has the meaning it has in section 11 (Class 2 contributions).”.