Removing the confusion around basis period reform for sheep farmers

摘要

Many sheep farmers operating as sole traders and in partnerships will be impacted by the proposed ‘basis period reform’ as part of the government’s plans for making tax digital for income tax self-assessment.With this reform deferred until the 2023/24 tax year, there is still time to consider your position if your year-end is not concurrent with the tax year, allowing you to take steps to minimise the impact of the new measures.