Question About Income Threshold Calculation
Polo
1 reply so far...
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I’m keeping track of my income to ensure I don鈥檛 exceed the thresholds, especially with the potential VAT threshold changes for micro-entrepreneurs.
I have a quick question:
Is income calculated on a cash or accrual basis? For example, if I issued an invoice in November 2024 but received payment in January 2025, would that be counted as 2024 or 2025 income for threshold purposes?
Thanks in advance for your help!
Polo