Commentary

B6.212 Change in accounting policy and property businesses

Business tax
Business tax | Commentary

B6.212 Change in accounting policy and property businesses

Business tax | Commentary

Adjustments on change of basis of taxation of property business

B6.212 Change in accounting policy and property businesses

There will be occasions where the business changes the accounting basis (though both bases will be in accordance with the law at the time). This might occur, for example, if accounting practice changes in the meantime, or if the business changes from GAAP (see B6.202B) to the cash basis (see B6.202C) or vice versa1.

The adjustment income rules will apply for a UK property business if there is a change of accounting policy that involves, but is not limited to, moving from

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