Recent developments

These modules are in the process of being reviewed and updated for the 2024-25 tax year, and/or the 2024 financial year. This update is due to be completed by the end of April 2024, but in the meantime, commentary may refer to rules in the 2023-24 tax year and the 2023 financial year.


Carrying on a trade for income tax purposes

by Laura Burrows

An introduction to the charge to tax on trade income

15 mins
Course status: Not yet started
Released in December 2023
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Calculating trade profits for income tax purposes

by Laura Burrows

The accruals basis, the cash basis and the trading income allowance

20 mins
Course status: Not yet started
Released in December 2023
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Trade expenses for income tax: general principles

by Laura Burrows

Capital expenditure and the wholly and exclusively rule

20 mins
Course status: Not yet started
Released in December 2023
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Trade expenses for income tax: statutory rules

by Laura Burrows

The rules applying to some common expenses

20 mins
Course status: Not yet started
Released in December 2023
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Trade receipts for income tax purposes

by Laura Burrows

How to determine whether a receipt should be brought into account in calculating trade income

10 mins
Course status: Not yet started
Released in December 2023
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Identifying the basis period

by Laura Burrows

How to identify the basis period for the purposes of the charge to income tax on trading income

20 mins
Course status: Not yet started
Released in December 2023
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Allocating amounts to basis periods

by Laura Burrows

How to apportion profits and losses and deal with overlap profits

15 mins
Course status: Not yet started
Released in December 2023
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Income tax relief for trade losses: general principles

by Laura Burrows

Claiming relief for a trade loss for an established, continuing business

15 mins
Course status: Not yet started
Released in December 2023
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Income tax relief for trade losses: commencement and cessation

by Laura Burrows

Claiming relief for a trade loss in the early years or final year of the trade

15 mins
Course status: Not yet started
Released in December 2023
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Particular trades: income tax

by Laura Burrows

The rules applying to particular trades, including farmers, market gardeners, contractors and subcontractors

25 mins
Course status: Not yet started
Released in December 2023
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Assessing trade profits

by Laura Burrows

Identifying the basis period for 2023-24, and the rules for later years


20 mins
Course status: Not yet started
Released in December 2023
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