# Income Tax (Trading and Other Income) Act 2005, Paragraph 49


(1) There is an exception to the rule that, subject to Part 8, the charge to tax under Chapter 2 of Part 2 on the profits of a trade, profession or vocation of a tax year operates by reference to the profits of the basis period for the tax year (which may include a period falling before 6th April 2005).
(2) The exception is that section 207 does not apply to payments received before 6th April 2005.

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Source: https://www.legislation.gov.uk/ukpga/2005/5/schedule/2/paragraph/49 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/schedule-2/paragraph-49
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.