# Finance (No. 2) Act 2017, Paragraph 15


After that italic heading insert—
“Profits of a property business: application of trading income rules
271E (1) The profits of a property business are calculated in the same way as the profits of a trade.
(2) But this is subject to—
(a) section 272, which limits the rule in subsection (1) in relation to a property business whose profits are calculated in accordance with GAAP, and
(b) section 272ZA, which limits that rule in relation to a property business whose profits are calculated on the cash basis.”

---
Source: https://www.legislation.gov.uk/ukpga/2017/32/schedule/2/paragraph/15 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2017/schedule-2/paragraph-15
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.