Point in time view as at 16/11/2017.
There are currently no known outstanding effects for the Finance (No. 2) Act 2017, Paragraph 15.
15U.K.After that italic heading insert—
(1)The profits of a property business are calculated in the same way as the profits of a trade.
(2)But this is subject to—
(a)section 272, which limits the rule in subsection (1) in relation to a property business whose profits are calculated in accordance with GAAP, and
(b)section 272ZA, which limits that rule in relation to a property business whose profits are calculated on the cash basis.”
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