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    Income tax - Trading income - Sole traders - Profits - Computation of trading income - The cash basis of taxation - Introduction - 21010

    An optional alternative method of computing taxable profits is available to eligible individuals and partnerships carrying on an unincorporated business. Profits are computed on the basis of...

    Cash basis extended and limits raised

    HMRC has recently announced changes to the cash basis for accounting taxable profits. What are they and can you take advantage?

    Simplified accounting to reduce your tax bill

    If your business meets the conditions, you can use simplified accounting for tax purposes. It might even lower your tax bill. Is this something you should consider?