Section 307A | Cash basis: application of Chapter

(1)The following provisions of this Chapter apply only where the profits of a property business are calculated on the cash basis—

(a)section 307B (cash basis: capital expenditure),

(b)section 307C (cash basis: deduction for costs of loans), and

(c)section 307D (cash basis: modification of deduction for costs of loans).

(2)Sections 307E and 307F make provision about capital receipts in certain cases where the profits of a property business are calculated on the cash basis or have previously been calculated on the cash basis.