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Mra Tenth Schedule Regulation 22b Form

Mra Tenth Schedule Regulation 22b Form

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[Music] from 2024 to 2025 all unincorporated businesses will have to move to the new tax year basis this applies to you if you're self-employed or in a trading partnership and your business accounting year end doesn't match the tax year in other words isn't between the 31st of March and the 5th of April this change doesn't affect employees or limited companies the move to the new tax year basis also known as basis period reform aims to create a simpler and fairest scheme for all unincorporated businesses this includes self-employed Soul Traders and Partnerships it will make it easier to match trading income and to align the tax liability to the tax years businesses can make accounts up to any date in the year but they may find it easier to prepare their accounts up to the tax year end from 2023 to 2024 onwards this will make it simpler as they won't need to use two sets of accounts for their self assessment tax returns if this applies to you the

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Statement OF INCOME MRA

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