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Tax question
hillde
Posts: 3 Newbie
in Cutting tax
Im self employed and If I work and earn money this tax year but don't actually receive it until the next tax year, which year do I put it in my books as?
0
Comments
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Income is recognised when you do the work, not when you get the money in so that means you will include it for this year. HMRC are introducing the cash basis for smaller businesses but this will only apply from April 2013.0
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Thank you!0
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