SCHEDULES

SCHEDULE 4 U.K.Cash basis for small businesses

PART 1 U.K.Main provisions

Receipts U.K.

22 (1) Section 105 (industrial development grants) is amended as follows. U.K.

(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.”