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Sole Trader - Cash vs Accrual Basis

Sea The Starz · 2015-10-20 20:17:36

Hi, just wondering are sole traders taxable income based on cash or accruals basis of accounting? I can't find it anywhere on the revenue website or interwebz, it mentions that VAT can be accounted for on a cash basis but nothing about taxable income. Cheers!

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20-10-2015 9:17pm

#1

Sea The Starz

Registered Users Posts: 145 ✭✭

Join Date: October 2009

Posts: 123

Hi, just wondering are sole traders taxable income based on cash or accruals basis of accounting? I can't find it anywhere on the revenue website or interwebz, it mentions that VAT can be accounted for on a cash basis but nothing about taxable income.

Cheers!

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#2 20-10-2015 9:26pm
Alan Shore

Registered Users Posts: 735 ✭✭✭

Join Date: May 2010

Posts: 734

Accruals.

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#3 20-10-2015 9:32pm
Sea The Starz

Registered Users Posts: 145 ✭✭

Join Date: October 2009

Posts: 123

That's what I thought. Thanks for the reply!

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