As a landlord you might need to make extra calculations when completing your 2017/18 tax return because of the new basis for working out profit. What sort of adjustments are required and is there a
way to avoid having to make them?
Published 29.05.2018
The cash basis of accounting is to become the norm for unincorporated businesses when calculating profits for tax purposes. What steps do you need to take to prepare for the change and what impact
might it have on your tax bills?
Published 12.12.2023
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?
Published 27.11.2019
For 2017/18 and later years most private landlords will be expected to work out their profits using cash-basis accounting. This can make preparing your tax returns simpler, but it does have
drawbacks. What’s the full story?
Published 09.06.2017
Coronavirus support payments, whether received from your local authority or central government, are taxable income for your business. How and when should you report the income to HMRC?
Published 17.12.2020
Your accountant has started work on your year-end figures and is asking about unbilled liabilities which will be payable in the coming year. Should you mention staff bonuses, and what difference will
they make to the company’s tax bill?
Published 05.02.2018
You’re preparing the first accounts for your property rental business. HMRC says you can only claim tax relief for expenses paid after the business started. Does this mean you get no relief for the
costs incurred earlier in order to let the property?
Published 02.02.2023
You’ve discovered that some expenditure has been omitted from last year’s accounts. Can you deduct them in the subsequent, or even later, accounts? Does the Taxman have any say in the matter?
Published 13.10.2005
Claiming more expenses reduces your company’s tax bill. However, this also deflates the profit figure you might want to show to third parties. Is it possible for expenses to be treated differently
for accounting and tax purposes?
Published 17.07.2008
If the Taxman challenges an accounting treatment in your accounts, e.g. writing-off a significant amount of new product costs, what should you do, particularly if he uses a large Plc as the role
model?
Published 08.11.2007