There are currently no known outstanding effects for the Finance Act 2024, Paragraph 25.
25In section 227A (application of Chapter 17 of Part 2 where cash basis used), in subsection (1)—
(a)for paragraph (a) substitute—
“(a)the cash basis does apply in relation to a trade for a tax year but does not apply in relation to the trade for the following tax year.”
(b)for paragraph (b) substitute—
“(b)the cash basis does not apply in relation to a trade for a tax year but does apply in relation to the trade for the following tax year.”
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