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HMRC internal manual

Business Income Manual

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HM Revenue & Customs
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Averaging: claims to other reliefs

S224(4) Income Tax (Trading and Other Income) Act 2005

An individual making an averaging claim for any tax year may withdraw or amend claims to relief for that year under any other provision of the Income Tax Acts, or submit a new claim for such relief, at any time within the time limit for claiming averaging.

This rule applies to ’any claim for relief for that year under any other provision of the Income Tax Acts’, which includes a claim to loss relief. It does not apply to elections, for example for herd basis.