s 42 Statutory income
(1) Subject to this Act, the statutory income (if any) of a person from a source for a year of assessment (that year of assessment being in this section referred to as the relevant year) shall consist of— (a) the amount of his adjusted income (if any) from that source for the basis period for the relevant year; and (b) the amount of— (i) any balancing charge or the aggregate amount of the balancing charges; (ii) any agriculture charge or the aggregate amount of the agriculture charges; and (iii) any forest charge or the aggregate amount of the forest charges, falling to be made for the relevant year under Schedule 3 in relation to that source, reduced by the amount of any allowance or the aggregate amount of the allowances falling to be made for the relevant year under that Schedule in relation to that source. (2) Where the basis period for the relevant year overlaps the basis period for the immediately preceding year of assessment, the amount of adjusted income for the basis period for the relevant year shall be taken to be reduced by a sum determined in accordance with the formula— A×B –– C where A is the amount of the adjusted income for the basis period for the relevant year; B is the length of the period of the overlap; and C is the length of the basis period for the relevant year. Chapter 6—Aggregate income and total income