Section 329A Application of Chapter where cash basis usedF1
This Chapter applies if—
(a)
the profits of a property business are calculated—
(i)
on the cash basis for a tax year (see section 271D), and
(ii)
in accordance with GAAP (see section 271B) for the following tax year, or
(b)
the profits of a property business are calculated—
(i)
in accordance with GAAP for a tax year, and
(ii)
on the cash basis for the following tax year.
Annotations
Textual amendments
- F1
S. 329A 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. 27