Section 307A Cash basis: application of ChapterF1

(1)

The following provisions of this Chapter apply only where the profits of a property business are calculated on the cash basis—

(a)

section 307B (cash basis: capital expenditure),

(b)

section 307C (cash basis: deduction for costs of loans), and

(c)

section 307D (cash basis: modification of deduction for costs of loans).

(2)

Sections 307E and 307F make provision about capital receipts in certain cases where the profits of a property business are calculated on the cash basis or have previously been calculated on the cash basis.

Annotations

Textual amendments

F1: Ss. 307A-307F and cross-headings inserted (16.11.2017) (with effect in accordance with Sch. 2 para. 64 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 2 para. 23