Cash Basis for Partnership
Davidbyworth
Registered Posts: 71
in Tax
Hi All
I appreciate cash basis can be used up to an income of £150k. I have a partnership of 2 individuals, can this £150k threshold be applied to the the individuals or the partnership. Eg. If £160k income for partnership and £80k each can cash basis still be used?
I appreciate cash basis can be used up to an income of £150k. I have a partnership of 2 individuals, can this £150k threshold be applied to the the individuals or the partnership. Eg. If £160k income for partnership and £80k each can cash basis still be used?
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