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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13861
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I am self employed and I am waiting for a reasonable large

Resolved Question:

I am self employed and I am waiting for a reasonable large payment for a job that I did in tax year 13 - 14 but i do not know the amount yet as its is royalty based and also do not know when it will be settled sometimes it take them a year
I am preparing my account for this 13 -1 4
do i just leave it out and put it into the next tax year when i get paid
Submitted: 2 years ago.
Category: Tax
Expert:  Sam replied 2 years ago.
Hi
Thanks for your question, I am Sam and I am one of the UK tax experts here on Just Answer.
Yes that's right as if you do your accounts on the cash basis then this is determined by the date you are actually paid, and even if you do not use the cash basis for your accounts, the fact these are royalties - will allow you to treat them in the year in which they are paid.
Either way - this income can be treated as arising in 2014/2015
Let me know if you require any further advise on this matter
Thanks
Sam
Customer: replied 2 years ago.

Hi Same

great thank you !!!

All the best

Jon

Expert:  Sam replied 2 years ago.
Hi Jon
You are very welcome
If I could trouble you to rate the level of service I have provided, it would be appreciated, as this ensures I am credited for my time
Thanks
Sam
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