{
  "url": "https://openlegislation.uk/finance-no-2-act-2017/schedule-2/paragraph-17",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2017/schedule-2/paragraph-17.json",
  "legislation": "ukpga/2017/32",
  "legislation_title": "Finance (No. 2) Act 2017",
  "legislation_url": "https://openlegislation.uk/finance-no-2-act-2017",
  "path": "schedule/2/paragraph/17",
  "kind": "paragraph",
  "number": "17",
  "heading": null,
  "text": "After section 272 insert—\n“Application of trading income rules: cash basis\n272ZA (1) In relation to a property business whose profits are calculated on the cash basis, the provisions of Part 2 (trading income) which apply as a result of section 271E(1) are limited to the following—\n“\nIn Chapter 3 (basic rules)—\nsection 26\nlosses calculated on same basis as profits\nsection 28A\nmoney's worth\nsection 29\ninterest\nIn Chapter 4 (rules restricting deductions)—\nsection 34\nexpenses not wholly and exclusively for trade and unconnected losses\nsections 38 to 42 and 44\nemployee benefit contributions\nsections 45 to 47\nbusiness entertainment and gifts\nsection 52\nexclusion of double relief for interest\nsection 53\nsocial security contributions\nsection 54\npenalties, interest and VAT surcharges\nsection 55\ncrime-related payments\nsection 55A\nexpenditure on integral features\nIn Chapter 5 (rules allowing deductions)—\nsection 57\npre-trading expenses\nsections 58 and 59\nincidental costs of obtaining finance\nsection 69\npayments for restrictive undertakings\nsections 70 and 71\nseconded employees\nsection 72\npayroll deduction schemes: contributions to agents' expenses\nsections 73 to 75\ncounselling and retraining expenses\nsections 76 to 80\nredundancy payments etc\nsection 81\npersonal security expenses\nsections 82 to 86\ncontributions to local enterprise organisations or urban regeneration companies\nsections 86A and 86B\ncontributions to flood and coastal erosion risk management projects\nsections 87 and 88\nscientific research\nsections 89 and 90\nexpenses connected with patents, designs and trade marks\nsection 91\npayments to Export Credits Guarantee Department\nIn Chapter 6 (receipts)—\nsection 96\ncapital receipts\nsection 97\ndebts incurred and later released\nsection 104\ndistribution of assets of mutual concerns\nsection 105(1) and (2)(b) and (c)\nindustrial development grants\nsection 106\nsums recovered under insurance policies etc\nIn Chapter 6A (amounts not reflecting commercial transactions)—\nsection 106C\namounts not reflecting commercial transactions\nsection 106D\ncapital receipts\nsection 106E\ngifts to charities etc\nIn Chapter 7 (gifts to charities etc)—\nsection 109\nreceipt by donor or connected person of benefit attributable to certain gifts\n”\n(2) In those provisions, the expression “this Part” is to be read as a reference to those provisions as applied by subsection (1) and to the other provisions of Part 3.\n(3) In section 106D, the reference to subsection (4) or (5) of section 96A is to be read as a reference to subsection (2), (3) or (5) of section 307F (deemed capital receipts under, or after leaving, cash basis).”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2017/32/schedule/2/paragraph/17",
    "retrieved_at": "2026-10-29T09:05:16.335265+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}