Advice: Cash issue
By Corinne Staves
At the moment, people taxed as partners (including members of LLPs) calculate and pay their tax in the UK by reference to the business’s financial year. This will change so that tax is calculated and paid by reference to the UK tax year (6 April to 5 April).
This won’t affect the overall amount of tax payable, but it will accelerate timing of tax payments.
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