Cash basis for small businesses
'just and reasonable basis'
Accounting
Capital receipts
Generally
Interest payments on loans
Adjustment income
Generally
Spreading on leaving cash basis
Amounts not reflecting commercial transactions
Capital receipts
Generally
Gifts to charities etc.
Annual investment allowance
Available to foreign resident individuals
Averaging profits of farmers and creative artists
Barristers or advocates
Calculating profits on
Generally
Receipts and expenses
Restricting expenses
Capital allowances
Adjustments on entering cash basis
Assets not fully paid for
Generally
Plant and machinery allowances
Successions, connected persons
Unrelievable qualifying expenditure
Capital receipts
Care, qualifying care receipts
Chargeable gains
Disposals made by persons leaving cash basis
Exemption for disposals
Commencement
Compensation for compulsory slaughter of animals
Deductions
Capital expenditure
Generally
Incidental costs of obtaining finance
Interest payments on loans
Payroll deduction schemes, agents' expenses
Share schemes, costs of setting up
Tenants under taxed leases
Trade tools
Eligibility
Condition A – relevant maximum
Condition B – multiple trades, professions or vocations
Condition C – excluded persons
Effect of making an election
Generally
Eligibility to calculate profits on
Calculation of profits
Conditions to be met
Effects of election
Excluded persons
Generally
Relevant maximum
Expenditure normally specifically allowable
Generally
Herd basis rules
Industrial development grants
Interest payments relief
Know-how, disposal and acquisition
Long funding leases
Loss relief
Generally
No relief where cash basis used to calculate losses
Meaning of
Oil activities
Periods of account
Post-cessation receipts
Rent-a-room relief
Sound recordings
Specific trades
Telecommunication rights
Trading stock
Changes in
Value on cessation of trade
Transitional provisions
Transitional rule when changing accounting basis
Barristers and advocates
Capital allowances
Election to accelerate the adjustment income
Entering the cash basis
Generally
Leaving the cash basis
Transitional rules apply to business entering or leaving
Unremittable amounts
Work in progress, value on cessation of trade