Finance Act 2013 (c. 29)

SCHEDULES

SCHEDULE 4 U.K. Cash basis for small businesses

PART 1 U.K. Main provisions

Herd basis rules U.K.

24 U.K. In Chapter 8 (trade profits: herd basis rules), after section 111 insert—

“111A Herd basis rules not to apply where cash basis used

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