What is CASH BASIS accounting? UK small business basics

As part of UK Self Assessment tax you can chose to keep records based on the Cash Basis or Traditional Accounting schemes. In this video I explain what Cash Basis or Cash Accounting means and why you might want to use it as a simpler alternative to Traditional or Accruals (GAAP) based accounts. Remember to always seek professional help from an Accountant and don't forget to Subscribe and Share for more small business tips!

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