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HMRC internal manual

Business Income Manual

Averaging: adjustments to reliefs

S224(1) Income Tax (Trading and Other Income) Act 2005

The revised profits obtained by full averaging or by a marginal adjustment become the profits for all purposes of the Income Tax Acts. Thus any reliefs, assessments etc depending upon total income (for example, loss relief, Class 4 NIC and age allowance) may need to be recalculated as a result of the averaging (see BIM84160).