Cash basis accounting threshold?

Retrospective accounts & cash basis accounting

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As a sole trader, would I be able to use cash basis accounting for the tax year 2015/2016 and 2016/2017 if my turnover was above £83,000 for those tax years but below £150,000? I haven't done the accounts for those years yet.

Increase to the threshold of cash basis accounting (from £83,000 to £150,000) was put into effect from 6 April 2017 to my understanding.

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By Accountant A
11th Sep 2018 00:53

Have you not submitted your 2015/16 and 2016/17 returns yet?

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Replying to Accountant A:
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By pft51
11th Sep 2018 01:06

Quote:

Have you not submitted your 2015/16 and 2016/17 returns yet?


No I haven't.
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Replying to pft51:
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By Accountant A
11th Sep 2018 10:19

pft51 wrote:

Quote:

Have you not submitted your 2015/16 and 2016/17 returns yet?

No I haven't.

On 20 August, in response to your previous query regarding VAT registration, lionofludesch advised you "Seek professional advice. Could save you thousands." If you choose not to do so, nothing on this site will help extract you from the deep trouble you are getting yourself into. You are aware of the penalty regime for late and incorrect tax returns, are you?

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Replying to Accountant A:
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By Accountant A
11th Sep 2018 10:22

Deleted

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RLI
By lionofludesch
11th Sep 2018 08:30

Don't use the cash basis. It's carp.

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