Government urged to delay basis period reforms

There has been strong pushback on government plans to introduce basis period tax reporting with the main professional institutes calling for a delay, explains Stephen Relf CTA ACA, senior tax writer at Croner-i

The professional bodies have responded with one voice to the government’s proposals to move sole traders and partners to the tax year basis, urging the government to delay the reforms by at least one tax year. And there is further food for thought for the government in their detailed responses to the consultation which highlight a number of problems with the proposals.

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