Part 3 Commencement and Transitional Provision
Finance Act 2024 (2024 c 3) | Legislation

Part 3 Commencement and Transitional Provision

Commencement

47

The amendments made by this Schedule have effect for the tax year 2024-25 and subsequent tax years.

Transitional provision

48

(1)     This paragraph has effect for the purposes of construing references in the Income Tax Acts to the cash basis in relation to the calculation of the profits of a trade (but not a property business) for a tax year before 2024-25.

(2)     Any reference to calculating the profits of a trade on the cash basis is to

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