SCHEDULES
SCHEDULE 2Transitionals and savings etc.
Part 3Trading income
Treatment of business start-up payments received in an overlap period
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1
There is an exception to the rule that, subject to Part 8, the charge to tax under Chapter 2 of Part 2 on the profits of a trade, profession or vocation of a tax year operates by reference to the profits of the basis period for the tax year (which may include a period falling before 6th April 2005).
2
The exception is that section 207 does not apply to payments received before 6th April 2005.