Taxes Consolidation Act 1997 section 108

Statement of profits

Section 108 requires that any statement of profits prepared for Schedule D must include every source of income that is chargeable under that Schedule.

• A statement of profits charged under Schedule D must declare all chargeable income sources.
• This applies whether the statement is made by the taxpayer on their own account.
• It equally applies where the statement is made by an agent or other person acting on the taxpayer's behalf.
• No chargeable source of income may be omitted from the statement, regardless of who prepares or submits it.