Part 2Trading income
Chapter 5Trade profits: rules allowing deductions
F2Cash basis accounting
Annotations:
Amendments (Textual)
56AApplication of Chapter to the cash basis
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).
F1...
F32
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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.
S. 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