Paragraph 5 Chapter 3A (trade profits: cash basis)

Section 31B (relevant maximum for purposes of section 31A) is amended as follows.

In subsection (6), for “where the basis period for a tax year is less than 12 months” substitute “where the trade, profession or vocation is carried on for only part of a tax year”.

In subsection (7), in the definition of “universal credit claimant”, omit “the basis period for”.