Schedules

Schedule 10Calculation of trade profits etc

Part 1Main provisions

6Removal of turnover restrictions etc

In Chapter 3A of Part 2 of ITTOIA 2005 (trade profits: cash basis) omit—

a

section 31A (conditions to be met for profits to be calculated on cash basis) and the italic heading before it,

b

section 31B (relevant maximum), and

c

section 31D (effect of election under section 25A) and the italic heading before it.