Schedules
Schedule 10Calculation of trade profits etc
Part 2Minor and consequential amendments
Chapter 1Amendments of ITTOIA 2005
Amendments of other provisions
25
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.”