To carry out an initial review of an averaging claim, check that:
- The trade, profession or vocation is a qualifying one (see BIM84050).
- Where the trade is farming, market gardening or intensive rearing of livestock or fish, it is carried on in the UK (see BIM84050).
- The claimant is not a company (see BIM84050).
- The claim was made not later than the normal time limit, or, exceptionally, under the extended time limit for further claims (see BIM84150).
- The claim covers two or five consecutive tax years (see BIM84115).
- The profits dealt with by the claim are the trade profits after capital allowances and balancing charges (see BIM84120).
- Of the profit figures, the lower figure is less than 75% of the higher figure (see BIM84130).