April 2018 , start of instant income tax , for partnership/sole traders

Cowmangav

Cowmangav

Member
Location
Ayrshire
My accountant and I had a chat about this today. Not sure if there is a thread already on here?

Sounds an absolute nightmare. A stock farmer with a 31st August year end could have a pile of tax to pay in his first quarter ( lamb sales,calf sales and BPS ) , and his cash flow would be knackered for the rest of the year.
I'm worried about not getting immediate use of past losses either. Can anyone enlighten me?
 

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