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Textual Amendments
F1S. 56A and cross-heading inserted (with effect in accordance with Sch. 4 paras. 56, 57 of the amending Act) by Finance Act 2013 (c. 29), Sch. 4 para. 13
(1)The following sections do not apply in calculating the profits of a trade on the cash basis—
sections 60 to 67 (tenants under taxed leases).
F2...
F3(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)In calculating the profits of a trade on the cash basis, any reference in this Chapter to the incurring of expenses is to be read as a reference to the paying of expenses.]
Textual Amendments
F2Words in s. 56A(1) omitted (with effect in accordance with s. 72(4) of the amending Act) by virtue of Finance Act 2016 (c. 24), s. 72(2)(a)
F3S. 56A(2) omitted (6.4.2024 for the tax year 2024-25 and subsequent tax years) by virtue of Finance Act 2024 (c. 3), Sch. 10 paras. 18, 47 (with Sch. 10 paras. 48-50)