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Daily Archives: November 7, 2017

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Self-employed: The cash basis can reduce your tax bill

Self-employmentBy Nathan HolmesNovember 7, 2017

Your self-employed profits are normally prepared on an ‘accruals’ basis – this means you include income for work performed in an accounting year and not just the cash that you received. However, if your income is less than £150,000 you can use the simpler cash basis to work out your profits.  The cash basis option is…

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