Finance Act 2013 (c. 29)

SCHEDULES

SCHEDULE 4 U.K. Cash basis for small businesses

PART 1 U.K. Main provisions

Averaging profits of farmers and creative artists U.K.

32 U.K. In Chapter 16 (averaging profits of farmers and creative artists), after section 221 insert—

“221A Claim not available where cash basis used

Nothing in this Chapter applies in calculating the profits of a trade on the cash basis.”