4 articles tagged with Cash Basis.
Most sole traders can now use cash basis accounting regardless of turnover, but the choice still has real tax timing consequences. Here's how the rules work for 2026/27 and when accruals is still the better fit.
Cash basis is now the default accounting method for UK sole traders from April 2024. This guide explains how it works in 2026/27, who benefits, and when accruals basis is still better.
Cash basis accounting simplifies tax for small businesses by taxing income when received and deducting expenses when paid. Learn the rules, limits, and exit rules for 2026/27.
The cash basis is now the default for most sole traders, taxing money when it actually moves. Learn when accruals accounting still wins and how the choice affects your 2026/27 Self Assessment.