TaxCorporate TaxBudget2012: Government to consult on cash calculations for smallest businesses

Budget2012: Government to consult on cash calculations for smallest businesses

Proposals from OBR suggest taxing companies with turnover of up to £77,000 on the cash that passes through the business

THE GOVERNMENT will consult on proposals for small firms to use a new cash basis as a way to calculate tax.

Proposals from OBR suggest taxing companies with turnover of up to £77,000 on the cash that passes through the business.

Will simplyfy tax for 3 million companies.

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