Schedules
Schedule 10Calculation of trade profits etc
Part 2Minor and consequential amendments
Chapter 2Amendments of other Acts
43CAA 2001
1
Section 462A (persons leaving cash basis) is amended as follows.
2
In subsection (1)—
a
in paragraph (b), for “an election under section 25A of ITTOIA 2005 (cash basis for trades) has effect” substitute “the cash basis applies”
;
b
in paragraph (d), for “an election under section 25A of that Act had not had effect” substitute “the cash basis had not applied”
.
3
In subsection (5)—
a
in paragraph (a), for “an election under section 25A of ITTOIA 2005 had effect” substitute “the cash basis applied”
;
b
in paragraph (b), for “such an election does not have effect” substitute “the cash basis does not apply”
.
4
After subsection (4) insert—
4A
Subsection (11)(za) of section 1A (capital allowances and charges: cash basis) applies for the purposes of this section as it applies for the purposes of that section.