Part 2Trading income
Chapter 17Adjustment income
Adjustment on change of basis
227AF1Application of Chapter where cash basis used
1
This Chapter applies if—
a
an election under section 25A (cash basis for small businesses) has effect in relation to a trade for a tax year but no such election has effect in relation to the trade for the following tax year, or
b
no such election has effect in relation to a trade for a tax year but such an election has effect 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).