# Income Tax (Trading and Other Income) Act 2005, Section 329A: Application of Chapter where cash basis used


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.

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/329A (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-329A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.