Resource Centre

October 2017

Cash Basis for the Self-Employed

We consider the optional rules which allow small unincorporated businesses to calculate their profits for tax purposes on a cash basis rather than the normal accruals basis.

Cars for Employees

The current regime for taxing employer provided cars (commonly referred to as company cars) is intended:

Small Company Accounting

The extent of the change will vary on a company by company basis. It will depend upon the nature of the company’s activities and the types of assets which it has.

National Insurance

National insurance contributions (NICs) are essentially a tax on earned income. The NICs regime divides income into different classes: Class 1 contributions are payable on earnings from employment, while the profits of the self-employed are liable to Class 2 and 4 contributions.

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