SCHEDULES
SCHEDULE 4Cash basis for small businesses
PART 1Main provisions
Receipts
22
1
Section 105 (industrial development grants) is amended as follows.
2
In subsection (2), at the end of paragraph (a) insert “
(but see subsection (2A))
”
.
3
After that subsection insert—
2A
Subsection (2)(a) is to be disregarded in calculating the profits of a trade on the cash basis.