Related Commentary  


The heading substituted by F(No. 2)A 2017, s. 16 and Sch. 2, para. 7(2), with effect for the tax year 2017–18 and subsequent tax years, subject to the provisions of F(No. 2)A 2017, Sch. 2, para. 64. Former heading read “Unrelieved qualifying expenditure”.

240C(1)  This section applies if–

(a)a person carrying on a trade enters the cash basis for a tax year (“the current tax year”), and

(b)at the end of the basis period for the previous tax year, the person has unrelieved qualifying expenditure relating to the trade to carry forward from the chargeable period ending with that basis period.

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