Schedules

Schedule 10Calculation of trade profits etc

Part 2Minor and consequential amendments

Chapter 1Amendments of ITTOIA 2005

25Amendments of other provisions

In section 227A (application of Chapter 17 of Part 2 where cash basis used), in subsection (1)—

a

for paragraph (a) substitute—

a

the cash basis does apply in relation to a trade for a tax year but does not apply in relation to the trade for the following tax year.

b

for paragraph (b) substitute—

b

the cash basis does not apply in relation to a trade for a tax year but does apply in relation to the trade for the following tax year.