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Self Assesment: cash basis
Tiexen
Posts: 740 Forumite
in Cutting tax
Just looking at my self assessment for this year and can anyone tell me what this means:
"Did you use the cash basis, money actually received and paid out, to calculate your income and expense?" YES/NO
"Did you use the cash basis, money actually received and paid out, to calculate your income and expense?" YES/NO
0
Comments
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Basically whether you're using the normal method, i.e. including unpaid invoices, work in progress and stock values at each year end, or whether you're using the new "cash" method which is simply money in and money out during the tax year.
https://www.gov.uk/simpler-income-tax-cash-basis/overview0 -
Basically whether you're using the normal method, i.e. including unpaid invoices, work in progress and stock values at each year end, or whether you're using the new "cash" method which is simply money in and money out during the tax year.
https://www.gov.uk/simpler-income-tax-cash-basis/overview
OK Thanks.0
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