Cash basis accounting for the self-employed. Cash basis accounting. It is a way to work out your income & expenses for your self-assessment tax return if you are a sole trader. If you run a small business, cash basis accounting will be ideal rather than traditional accounting. You must declare when […]
A sole trader has employment income. What happens if I also have earnings from employment or dividends? If you are employed, your employer would have deducted the tax for your earning. Also, when you have other income from a side hazel, you must register yourself as self-employed and declare that in […]