Finance Act 2024 (c. 3)

Schedules

Schedule 10 U.K. Calculation of trade profits etc

Part 2 U.K. Minor and consequential amendments

Chapter 1 U.K. Amendments of ITTOIA 2005

Amendments of other provisions U.K.

28 In section 240B (meaning of “entering the cash basis”)—

(a) in paragraph (a), for “an election under section 25A has effect” substitute “the cash basis applies”;

(b) in paragraph (b), for “such an election does not have effect” substitute “the cash basis does not apply”.