HMRC is reforming the basis period rules for UK tax accounting, specifically expanding the cash basis option for smaller businesses and simplifying how tax years are calculated. The reform aims to reduce compliance burdens and align accounting periods with actual business cash flows. This is an active consultation and impact assessment process with equality screening completed.
In response to: Expanding the cash basis
In response to: Expanding the cash basis
In response to: Basis period reform - consultation
We welcome your views on how to implement a simplification of the way trading profits of businesses are allocated to tax years under Income Tax Self Assessment.
We welcome your views on how to implement a simplification of the way trading profits of businesses are allocated to tax years under Income Tax Self Assessment.
We welcome your views on how to implement a simplification of the way trading profits of businesses are allocated to tax years under Income Tax Self Assessment.
We're seeking views on how to reform Gaming Duty accounting periods and bring its administration more into line with that of other gambling duties.
We're seeking views on how to reform Gaming Duty accounting periods and bring its administration more into line with that of other gambling duties.
We're seeking views on how to reform Gaming Duty accounting periods and bring its administration more into line with that of other gambling duties.
Consultation on the extension of the averaging period for farmers’ profits to 5 years.
Consultation on the extension of the averaging period for farmers’ profits to 5 years.
Consultation on the extension of the averaging period for farmers’ profits to 5 years.