Part 2Trading income

Chapter 17Adjustment income

Adjustment on change of basis

227AF1Application of Chapter where cash basis used

1

This Chapter applies if—

F3a

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.

F4b

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.

2

But this Chapter does not apply to income which is charged in accordance with section 832.

F23

This section is subject to section 227C (application of Chapter where section 227B applies).