Accruals and Receipts Basis
SAFCTony
Registered Posts: 3 New contributor 🐸
Sitting Personal Tax next week and am getting confused about which income is assesses on which basis!!
Does anyone have a definitive answer as to whether Employment, Capital Gains, Saving and Property income is assessed on Accruals or Receipts basis?
Thank You
Does anyone have a definitive answer as to whether Employment, Capital Gains, Saving and Property income is assessed on Accruals or Receipts basis?
Thank You
0
Comments
-
As far as I'm aware, it is only property income that was singled out in my textbooks as being assessed on an accruals basis, because there were a few exercises which involved tenants who had neglected to pay their rent on time (within the tax year).0
-
Thanks Morpheus1980 - I can now treat property as accruals.
Regards0
