SA105 : Property: traditional accounting or cash basis?
Cash basis is a simpler way of working out your property business profits or losses. You add up
all your property income received (your turnover) and take off any allowable expenses paid in the
year. Don’t include money you owe or owed to you after 5 April 2020.
You can only use cash basis if your total income from UK property (including FHLs in the UK) or
income from foreign property (including FHLs inthe EEA) is up to £150,000.
To show indicate that you are using the Cash Basis for your property accounting on SimpleTax
Click on the Property Page and click on EDIT

Select the radio button option for HAVE YOU CALCULATED YOUR INCOME AND EXPENSE ON THE CASH BASIS?

Related Articles
SA103s Box 8: How do I show that I have used traditional accounting rather than cash basis?
To show that you have used traditional accounting rather than cash basis, please follow the steps below: If you have not added the Self Employed page already, please click on + NEW PAGE on the left of the screen. Select Self Employment (SA103) from ...
SA103F Box 10: How do I show that I used the traditional accounting basis?
To show that you used traditional accounting rather than the Cash Basis, please follow the steps below: If you have not added the Self Employed page already, please click on + NEW PAGE on the left of the screen. Select Self Employment (SA103) from ...
SA103F Box 68: How do I show that my basis period is not the same as my accounting period?
To populate box 68 and show that your basis period is not the same as your accounting period, please follow the steps below: If you have not added the Self Employed page already, please click on + NEW PAGE on the left of the screen. Select Self ...
SA106 : Foreign Income: Property Income Allowance
Full Relief - If your property Income is less than £1000, the property allowance provides for full relief from income tax Not only is there no income tax to pay, but also no need to register with HMRC or file tax returns provided property income is ...
Partnership Property Finance Costs
For the 2020 to 2021 tax year, you can only claim 0% of the cost of getting a loan, or alternative finance to buy a residential property that you let, and 0% of any interest on such a loan or alternative finance payments. 1. Click on '+ NEW PAGE' and ...