C

    Income tax - Trading income - Sole traders - Profits - Computation of trading income - The cash basis of taxation - Taxable receipts - 21035

    Taxable receipts also include: - proceeds of disposal of an asset, if a cash basis deduction was claimed for its acquisition or improvement; and - the value of stock or work in progress at the...

    Cash basis accounts - are they worth the effort?

    HMRC allows some unincorporated businesses to base their tax bills on profits calculated using the cash basis. How can you turn this administrative simplification into a tax and NI saving?

    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?