The Chancellor's Autumn Statement unveiled a strategic move to expand cash basis accounting starting from April 2024. This initiative aims to encourage adoption by sole traders and partnerships for calculating profits for trading income.
This radical shift in approach raises a number of important questions, which we will explore in our latest must-attend webinar.
Andy and Sarah will be joined by special guest, the awesome Sharon Cooke – Technical Director of 20:20 Innovation – to give a guided tour of the cash basis, setting out what it means in plain language, refreshing your understanding of the fundamentals, clarifying what’s new and demystifying the nuances.
What exactly does the new legislation say?
The less obvious implications for you and your clients.
Cash basis vs ‘traditional’ accounting (a refresher).
Transitional rules and arising complexities.
How the cash basis rules intersect with MTD and basis period reform.
What all this will mean to you from April 2024 and beyond.