Course description
This virtual classroom session is ideal for those who deal with business tax returns and the taxable basis period regime for the self-employed on a day-to-day basis.
Presented by taxation consultant, author and lecturer Russell Cockburn, this live and interactive session will include a brief history of previous year and current year basis periods, as well as looking at current basis period regime, the new basis of assessment from 2024/25, opening and closing year rules, transitional rules, the use of overlap relief and implications, income tax and timing issues, the implications for averaging cases, and more.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
This virtual classroom session is aimed at those who deal with business tax returns and the taxable basis period regime for the self-employed on a day-to-day basis.
The aim of this session is to be practical and relevant and will include reference to examples.
What You Will Learn
This live and interactive course will cover the following:
- Brief history of previous year and current year basis periods
- The current basis period regime
- The new basis of assessment from 2024/25
- Opening and closing year rules
- Transitional rules
- Use of overlap relief and implications
- Spreading rules
- Income tax and timing issues
- Implications for averaging cases
- Changes of accounting date and the extra chargeable “Transition Profits” for 23/24, the confusion demystified
Expenses
MBL Seminars Limited
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