Tax Returns

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hugo7

Struggling to find a quick answer so thought I'd ask here.

If I perform services and invoice in Mar '20, but receive the payment in Apr '20 does it fall in 19/20 or 20/21 tax year?

Cheers.

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Brommers in reply to @hugo7

Depends if your accounts are prepared on a cash basis or an accruals basis. I know I have to do mine on an accruals basis, so I have to pay tax on the value of the work I've done, not when I get paid.

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