Cash basis for small businesses – ACCA Taxation (TX-UK) Exam FA2019

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1. azizs1 says

   January 27, 2021 at 2:39 pm

   Would business mileage not be an allowable expense regardless? Could you not claim capital allowances aswell as business mileage rather than one or the other?

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2. dapo11 says

   April 25, 2020 at 10:53 am

   I THOUGHT CASH BASIS IGNORES PAYABLE AND RECEIVABLES …WHY WAS DEDUCTED AGAIN

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   • mohammed31071996 says

     June 29, 2020 at 2:28 pm

     @dapo11 It is because payables and receivables involve cash, they are cash outflows and inflows respectively. Think of it in terms of the statement of cash flows, and apply the basic concepts of cash flow items, in relation to tax, as regards the topic presented in this particular lecture.

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