Kieran Coughlan: Home CAT relief heavily restricted in Finance Bill
On income averaging, the Finance Bill confirms that the stepping-out mechanism for income averaging will come into effect in respect of year of assessment 2016 and future years.
For farmers with income averaging, there were hopes that the mechanism allowing them to step out of averaging for one year (rather than a full blown exit from averaging) would have been available in respect of the returns just filed in October and November of this year.
