# Finance Act 2022, Paragraph 5: Chapter 3A (trade profits: cash basis)

Extent: E+W+S+N.I.

(1) Section 31B (relevant maximum for purposes of section 31A) is amended as follows.
(2) 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”.
(3) In subsection (7), in the definition of “universal credit claimant”, omit “the basis period for”.

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Source: https://www.legislation.gov.uk/ukpga/2022/3/schedule/1/paragraph/5 (the official version)
Page: https://openlegislation.uk/finance-act-2022/schedule-1/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.