Depending on various factors, as a Barrister, you can choose how you would like your accounts and tax to be prepared. You are allowed to change between the basis of accounting relatively freely providing you notify HMRC accordingly and make all the necessary transitional adjustments where appropriate. It might be the case that changing the basis of accounting could make you more tax efficient. Read the latest in our series of Barrister FAQ articles to find out more. 

 As a barrister, profits may be calculated in one of three ways; the ‘Old’ Cash Basis, the Earnings Basis and the ‘New’ Cash Basis. In our series of Barrister FAQs, we’ve talked about ‘What is Cash Basis Accounting? In this article we provide a helpful overview of each kind, for you to establish which system is right for you. 

It’s coming to the end of the tax year, so it is a good time to look at your personal finances and make a plan to maximise benefits from your personal tax allowance, pension contributions and capital gains.

If we said to you, you can have access to one simple piece of software which will streamline your business, get your invoices paid faster, reduce data entry time and improve productivity? What would you think?

We're pretty sure you'd bite our hands off. And, it’s much easier to set up than you think.