# Finance Act 2024, Paragraph 3: Introduction of cash basis default

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

In section 25 (generally accepted accounting practice)—
(a) in subsection (1), after “trade” insert “to which the cash basis does not apply”;
(b) omit subsection (3).

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Source: https://www.legislation.gov.uk/ukpga/2024/3/schedule/10/paragraph/3 (the official version)
Page: https://openlegislation.uk/finance-act-2024/schedule-10/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.