Spring Budget 2017 Reaction: Increase to the Cash Basis Threshold
Cash basis accounting (‘the cash basis’) is an optional and simplified method for calculating taxable profits for trading businesses with straightforward tax affairs. This budget saw the increase of the entry threshold from £83,000 to £150,000.
Cash basis will not be a suitable method of account for all businesses and you should always seek advice on the best accounting basis for your business.
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