# Finance (No. 2) Act 2017, Paragraph 30


In section 351 (income charged), after subsection (2) insert—
“(3) Further to subsection (2), section 254 applies for the purposes of this Chapter as if for subsection (2A) of that section there were substituted—
“(2A) If the time immediately before the person permanently ceases to carry on the UK property business falls in a cash basis tax year, assume for the purposes of subsection (2) that the profits of the business are calculated on the cash basis.”
(4) For the purposes of sections 254 (as so applied) and 353, a tax year is “a cash basis tax year” in relation to a property business if the profits of the business for the tax year are calculated on the cash basis (see section 271D).”

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Source: https://www.legislation.gov.uk/ukpga/2017/32/schedule/2/paragraph/30 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2017/schedule-2/paragraph-30
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.