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Muhammad Haider
Muhammad Haider,
Category: Tax
Satisfied Customers: 912
Experience:  Director at HM Accountax
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Can I ask a question regarding accounting? No, Cash based

Customer Question

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JA: Hi. How can I help?
Customer: Can I ask a question regarding accounting?
JA: Have you talked to a tax professional about this?
Customer: No
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: Cash based accounting method
Submitted: 14 days ago.
Category: Tax
Customer: replied 14 days ago.
My question is regarding cash based accounting, I understand how it works and my business will be under 75k each year, I am an ebay trader and although I carry a volume of stock of around 5000 units its spread over 400 separate listings. I understand accrual based can be beneficial if a large amount of stock is not sold off but I find cash based is best for me at the moment. Am I right in thinking cash based is fine to use for my simple business model and is suitable under 150k turnover?
Expert:  Muhammad Haider replied 14 days ago.

Hi,

I am an advisor at JA and happy to assist you.

IA m looking into your query and contact you shortly.

Regards

Muhammad

Expert:  Muhammad Haider replied 14 days ago.

Yes, you are right in thinking that and there won't be any issues.