Trading profit computation – accruals vs. cash basis

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December 4, 2015 at 9:49 pm #287684
Marko
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What are the main differences in calculation of trading profit using “normal accruals basis” and using “cash basis”?? With a special view on capital allowances?
I was blasted with the Question 4 of June 2014 Paper.

Thanks!
December 8, 2015 at 12:07 pm #288968
Tax Tutor
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Please see OT notes page 45 Chapter 6 Section 3
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