Cash Basis Explained

Course outline:

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 

CPD Hours: 1