Policy Threads

22 Nov 2023 | Policy paper HM Revenue & Customs linked

Expanding the Income Tax cash basis for self-employed individuals and partnerships

This tax information and impact note details legislation introduced to expand the income tax cash basis for the self-employed and partnerships, and to set the cash basis as the default method of calculating trading profits.

▤ View document · ↗ GOV.UK · ↓ Expanding the cash basis

27 Oct 2021 | Policy paper HM Revenue & Customs linked

Basis period reform

In response to: Basis period reform

▤ View document · ↗ GOV.UK

27 Oct 2021 | Policy paper HM Revenue & Customs linked

Basis period reform

This Tax Information and Impact Note details legislation introduced to simplify the basis period rules for the self-employed and partners.

▤ View document · ↗ GOV.UK · ↓ Basis period reform

20 Jul 2021 | Policy paper HM Revenue & Customs linked

Income Tax: basis period reform

In response to: Income Tax: basis period reform

▤ View document · ↗ GOV.UK

20 Jul 2021 | Policy paper HM Revenue & Customs linked

Income Tax: basis period reform

This measure intends to reform basis periods for Income Tax for the self-employed, it also launches a consultation on how to implement reform.

▤ View document · ↗ GOV.UK · ↓ Income Tax: basis period reform

+4 more

↓ Clause 1: Draft legislation (8pp) ↓ Clause 1: Explanatory note ↓ Clause 2: Draft legislation (1pp) ↓ Clause 2: Explanatory note

8 Mar 2017 | Policy paper HM Revenue & Customs linked

Increase to the cash basis threshold for unincorporated businesses

This tax information and impact note details an increase in the cash basis entry threshold for calculating taxable profits.

▤ View document · ↗ GOV.UK · ↓ Increase to the cash basis threshold for uninco…

31 Jan 2017 | Policy paper HM Revenue & Customs linked

Increasing cash basis thresholds for unincorporated businesses

This measure changes the cash basis threshold to a fixed amount of £150,000 and the exit threshold to twice the entry threshold.

▤ View document · ↗ GOV.UK · ↓ Increasing cash basis thresholds for unincorpor…

+2 more

↓ The Income Tax (Relevant Maximum for Calculating Trade Prof… (2pp) ↓ Explanatory memorandum to the Income Tax (Relevant Maximum … (3pp)