Surveyors tax bill changes
Surveyors tax bill changes
- 2004
- Estates Gazette (0405) 31 January 2004, 35(1) .
Surveyors face significant increases in their tax bills, following changes to the way professional services firms account for work in progress. Profit on equity partner time will be recognised while work is in progress, whereas existing arrangements mean tax is not levied until the bill has been delivered. This could present problems for work carried out in this financial year but not billed until the next.
PROFESSIONAL FEES
TAX REFORM
WORK IN PROGRESS
PROFESSIONAL CHARGES
Surveyors face significant increases in their tax bills, following changes to the way professional services firms account for work in progress. Profit on equity partner time will be recognised while work is in progress, whereas existing arrangements mean tax is not levied until the bill has been delivered. This could present problems for work carried out in this financial year but not billed until the next.
PROFESSIONAL FEES
TAX REFORM
WORK IN PROGRESS
PROFESSIONAL CHARGES