The Cash Accounting Conundrum

• What exactly does the new legislation say?
• The less obvious implications for you and your clients
• Cash basis vs ‘traditional’ accounting (a refresher)
• Transitional rules and arising complexities
• How the cash basis rules intersect with MTD and basis period reform
• What all this will mean to you from April 2024 and beyond

Meet our presenters

Andy North

Chief Marketing Officer, TaxCalc.

Sarah Dudley ACMA

Compliance Specialist, TaxCalc

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The Cash Accounting Conundrum

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You may already be aware of the Chancellor’s announcement in the Autumn Statement to expand cash basis accounting from April 2024.

One of its primary aims is to encourage sole traders and partnerships to adopt the cash basis (as opposed to the accruals basis) as the default method for calculating profits for trading income. This radical shift in approach raises a number of important questions for both accountants and their clients, which we will explore in our latest must-attend webinar.

Key talking points include:

You may already be aware of the Chancellor’s announcement in the Autumn Statement to expand cash basis accounting from April 2024.

Sharon Cooke FCA CTA

Technical Director, 20:20 Innovation.

A well-known speaker and consultant within the accountancy profession, and a Director at 20:20 Innovation. Sharon speaks on all technical tax matters pertinent to accountants in practice, with a particular flair for the practical application of legislation and rules.

Andy joined TaxCalc in 2021 as the Chief Marketing Officer from his previous role as publisher of AccountingWEB in both the UK and the US. He has spent over 20 years studying the accounting profession and appeared on too many podcasts and webinars to mention.

A former accountant in practice with over 20 years in the profession, Sarah ensures our software effortlessly enables our customers to comply with their tax and accounting obligations.

Andy and Sarah were joined by special guest, the awesome Sharon Cooke – Technical Director of 20:20 Innovation – to give a guided tour of the cash basis, setting out what it means in plain language, refreshing your understanding of the fundamentals, clarifying what’s new and demystifying the nuances.