[272ZA Application of trading income rules: cash basis]

[272ZA  Application of trading income rules: cash basis]

[(1)     In relation to a property business whose profits are calculated on the cash basis, the provisions of Part 2 (trading income) which apply as a result of section 271E(1) are limited to the following—

“In Chapter 3 (basic rules)—
section 26losses calculated on same basis as profits
section 28Amoney's worth
section 29interest
In Chapter 4 (rules restricting deductions)—
section 34expenses not wholly and exclusively for trade and unconnected losses
sections
Powered by Lexis+®

Popular documents