227AApplication 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.