Can Barristers change their accounting basis to become more tax efficient?

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.