partnerships How will the basis period reform affect your business cash flow from the 2024-25 tax year? 19 April 2022 Mike Wakeford 0 comments The new rules will not change the accounting period of the business, however the tax position will move from a current year basis to a tax year basis. This will mean that business profits will be calculated for the tax year rather than for the period of account ending in the tax year. Read more Will your unincorporated business be affected for basis period changes in 2023/24 – Transitional year 19 April 2022 Jonathan Green 0 comments The basis period rules for unincorporated businesses are being changed from the 6 April 2024, with a transitional year of the 2023/24 tax year. Read more Charitable donations by partnerships - is Gift Aid available? 23 October 2017 Simon Baylis 0 comments Since 6 April 2016, individual partners have had to make their own Gift Aid declarations when a partnership makes a donation to a charity or CASC. This reflects the correct legal position that each partner has made a donation. Each partner’s Gift Aid declaration must contain their name and full home address and be given to the charity or CASC. Read more
How will the basis period reform affect your business cash flow from the 2024-25 tax year? 19 April 2022 Mike Wakeford 0 comments The new rules will not change the accounting period of the business, however the tax position will move from a current year basis to a tax year basis. This will mean that business profits will be calculated for the tax year rather than for the period of account ending in the tax year. Read more
Will your unincorporated business be affected for basis period changes in 2023/24 – Transitional year 19 April 2022 Jonathan Green 0 comments The basis period rules for unincorporated businesses are being changed from the 6 April 2024, with a transitional year of the 2023/24 tax year. Read more
Charitable donations by partnerships - is Gift Aid available? 23 October 2017 Simon Baylis 0 comments Since 6 April 2016, individual partners have had to make their own Gift Aid declarations when a partnership makes a donation to a charity or CASC. This reflects the correct legal position that each partner has made a donation. Each partner’s Gift Aid declaration must contain their name and full home address and be given to the charity or CASC. Read more