Increasing cash basis thresholds for unincorporated businesses
This measure changes the cash basis threshold to a fixed amount of £150,000 and the exit threshold to twice the entry threshold.
Documents
Explanatory memorandum to the Income Tax (Relevant Maximum for Calculating Trade Profits on the Cash Basis) Order 2017application/pdfIncreasing cash basis thresholds for unincorporated businesses The Income Tax (Relevant Maximum for Calculating Trade Profits on the Cash Basis) Order 2017application/pdf