Cash Basis for Self-Employed Businesses

The Government has made the cash basis the default basis for the self-employed with effect from 2024/25.

This course will cover the changes made to the rules and work through a number of practical examples.

The content will include the following:

• Election to calculate profits in accordance with GAAP
• Excluded trades
• Special computational rules for deductions and income
• Moving in and out of cash basis
• Capital allowances on entering and leaving the cash basis