Averaging is an unusual relief because a claim results in

an amendment to the profits of the later year of the pair concerned; and

an adjustment to the tax of the later year based on the circumstances of the earlier year.

The main guidance on normal averaging claims is in help sheets IR224 (farmers) and IR234 (creators of literary and artistic works) and at BIM73000 onwards.

This manual looks at the special situation where a taxpayer wishes to amend or make an averaging claim after the normal time limit of 22 months after the end of the later of the two years of assessment concerned.

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