In case you're wondering, I've skipped past TSCB 12 - on complex Stock situations (part 2) to concentrate on the new rules. I'll go back and finish it later on.
Here we go:
As it’s Budget Day today, I thought I’d give you a heads up
about the new Cash Accounting rules. As
you know from my previous blog posts in this Tax for Small Crafting Businesses series, all businesses should be using the Accruals Basis. And as I know from some of the responses I’ve
had from you, dear readers, the nuts & bolts of how that works came as a
nasty shock to some of you!
This article is going to give the background of why these
changes are coming in, and a bit about the key features. Future articles will explain a bit more about what’s
involved and the pitfalls to avoid in deciding whether or not to stick with the
current Accruals Basis or move to the new Cash Accounting.
STOP PRESS: The Budget documents have now been released, and whilst the new rules have the green light, some changes have been made. Have a look at the next article TSCB14 for the updated position as they've moved the goalposts a bit! (Update 20 March 2013 13:49)
STOP PRESS: The Budget documents have now been released, and whilst the new rules have the green light, some changes have been made. Have a look at the next article TSCB14 for the updated position as they've moved the goalposts a bit! (Update 20 March 2013 13:49)
The pictures today are sneak previews of products that I've got in development for TootHillMedley. This first one, individual picnic blankets - don't you hate having your feet near the food or your back to everyone? The inspiration comes from the EM Forster book Room With a View where they use Gaberdine Squares on damp ground.
