Basis period reform: additional profits

Basis period reform: additional profits

From 6 April 2024 all unincorporated businesses (sole traders and partners in a partnership) are required to report profits or losses in line with the tax year. Businesses with an accounting period end other than 5 April or 31 March will need to report pro-rated...
Student loans and basis period reform 

Student loans and basis period reform 

New guidance from HMRC confirms that profits used to assess student loan repayments and entitlement to student finance will include transitional profits from basis period reform.