Commentary

B5.610 Barristers and advocates—accounting basis

Business tax
Business tax | Commentary

B5.610 Barristers and advocates—accounting basis

Business tax | Commentary

Barristers and advocates

B5.610 Barristers and advocates—accounting basis

Barristers and advocates could choose to adopt the cash basis in the early years of their practice, rather than applying the general rules that profits must be calculated in accordance with generally accepted accounting practice1. With the introduction of the cash basis for small businesses from 2013/14 (see B2.112) these special provisions are no longer required. They are therefore repealed with effect from 2013/14, with the exception that barristers and advocates who calculated their profits on this basis in 2012/13 may continue to use the basis for any subsequent period of

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