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An unicorporated trader

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › An unicorporated trader

  • This topic has 1 reply, 2 voices, and was last updated 10 years ago by Tax Tutor.
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  • June 21, 2015 at 12:26 pm #258413
    melinapiano
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    How to compute tax for an unicorporated trader (when individual moves from employment to selfemployment)?

    June 25, 2015 at 6:40 pm #258836
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    When an unincorporated trade commences, which would normally be after a period of employment then the opening years bases of assessment will apply – have you worked through chapter 6? Equally if an individual moves from self employment to employment then this would constitute a cessation of trade and the closing years bases of assessment would apply – again see chapter 6

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