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Small businesses can record income and expenses when money is actually paid rather than when they've invoiced or received
‘Cash basis’ is a way to work out your income and expenses for your Self…
You can use cash basis if you: run a small self-employed business, for…
At the end of the tax year, work out your taxable profit from your cash…
You must keep records of all business income and expenses to work out your…
You can start to use cash basis if you’re VAT registered as long as your…
If you’re a sole trader or partner, cash basis is the default way to work…
Records and paperwork you must keep if you're self-employed as a sole trader or partner in a business: income, costs, profit, how long to keep records.
You must keep records of your business income and expenses for your tax…
You’ll need to keep records of: all sales and income all business expenses…
You must keep your records for at least 5 years after the 31 January…
This series brings together all documents relating to the basic bank account data reported to the Treasury by the nine banks designated to provide basic bank accounts.
Find out how the new Customs Declaration Service cash account works, when it can be used and what type of customs charges you can pay.
Accounting for VAT using retail schemes if you're a VAT-registered business and you cannot account for VAT using normal accounting.
How to find the right bank for you, and when you will receive your arrival payment.
Find out what information you may be asked for by your account provider and how that information is shared.
How to tax a beneficial loan arrangement for a director or employee.
Check when to make a return, types of interest to report, and how to categorise participants. Find out how to deal with different types of accounts and ownership.
The Common Chart of Accounts is the set of codes to be used across central government for financial reporting into the OSCAR system.
Whole of Government Accounts is a consolidated set of financial statements for the UK public sector.
Check the rules on ISA subscriptions and what counts towards the subscription limit if you're an ISA manager.
Find out what investments qualify for a cash ISA, and the rules on connected accounts.
Business expenses you can claim if you're self-employed
Find out who has to pay VAT payments on account, how HMRC works out your payments, the alternatives and how and when to pay.
A guide to the main academy funding, finance and governance terms and acronyms.
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