(1) In this section -
"deferred tax" means the amount of income tax determined by the formula -
A – B
where -
A is the amount of income tax which would, apart from subsection (6A), be charged on an individual by virtue of subsection (6) in accordance with subsection (5) in respect of a year of assessment, and
B is the amount of income tax which would, apart from this section, be chargeable in accordance with Chapter 3 of Part 4 in respect of a year of assessment;
"specified return date for the chargeable period" has the same meaning as in section 959A.
(2) [deleted]
(3) [deleted]
(a) Subject to paragraph (b), where an assessment in respect of profits or gains from farming is made for any year of assessment on an individual, the individual may on giving notice in writing to that effect to the inspector within 30 days after the date of the notice of assessment elect to be charged to income tax for that year in respect of those profits or gains in accordance with subsection (5), and
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