TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Changes to Cash Accounting

In Section 1.30 of the March edition of tax.point, it was advised that HMRC had issued a press release on the extension of the Cash Accounting Scheme (CAS), whereby the threshold for CAS was to be more than doubled from £660,000 to £1.35 million with effect from 1 April 2007. Well, HMRC now reckon that almost 60,000 businesses are eligible for the simpler VAT.

HMRC issued another press release on the changes to the CAS, which is available at http://www.gnn.gov.uk/Content/Detail.asp?ReleaseID=283457&NewsAreaID=2.