Author Archives: Martin Wackett

Expanding the cash accounting basis to all self-employed businesses

Tax Return

As part of his 2023 Autumn Statement , the Chancellor announced that the cash basis will replace the accruals basis as the default method for preparing accounts for all unincorporated businesses from 6 April 2024.  The announcement means expanding the cash accounting basis to all self-employed businesses. This will apply to sole traders as well […]