INTRODUCTORY

1  Part 2 of ITTOIA 2005 (trading income) is amended as follows.

ELIGIBILITY TO CALCULATE PROFITS ON CASH BASIS

2  Chapter 3 (trade profits: basic rules) is amended as follows.

3  [Amends ITTOIA 2005, s. 25(3).]

4  [Inserts ITTOIA 2005, s. 25A.]

5  [Inserts ITTOIA 2005, Pt. 2, Ch. 3A.]

RULES RESTRICTING DEDUCTIONS

6  Chapter 4 (trade profits: rules restricting deductions) is amended as follows.

7  [Inserts ITTOIA 2005, s. 32A.]

8  [Inserts ITTOIA 2005, s. 33A.]

9  [Inserts ITTOIA 2005, s. 38(2A).]

10  [Inserts ITTOIA 2005, s. 51A.]

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