[24A Cash basis to apply by default]
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

[Basis of accounting]

[24A  Cash basis to apply by default]

[(1)     The profits of a trade for a tax year must be calculated on the cash basis, unless—

(a)     the trade is an excluded trade in relation to the tax year (see section 25B), or

(b)     an election under

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