Summer Budget 2015: Consultation on extension of averaging period for farmers

In the March 2015 Budget, the government announced that it would extend the period for which self-employed farmers can average their profits for income tax purposes from two years to five.

A consultation document published on 8 July 2015 explores two methods in which the extension to a five year averaging period could be designed and implemented.

Responses are invited and the consultation will close on 7 September 2015.