

Basis Period Reform: A Simple Guide for Sole Traders & Partnerships
Those who are self-employed or in a partnership need to know about a major tax change: “Basis Period Reform.” This new approach to taxing business profits in the UK aims to simplify things by aligning everyone’s tax calculations to the standard tax year. This guide breaks down everything in simple terms. Understand what is changing, how it impacts you, and what steps you may need to take.