ID 5014
FullText File
Title Alternative
Basis Period Reform for Trading Income in the UK Income Tax System
Authors
DANNO, MASAHIRO Faculty of Economics researchmap
Self DOI
Journal Title
The Wakayama economic review
Publisher
和歌山大学経済学会
ISSN
04516222
NCID
AN00071425
Volume
410
Start Page
1
End Page
26
Order
01
Published Date
2022-09-01
Language
jpn
Docuemnt Type
論文
Keywords
イギリスの所得税制度
事業からの所得
基準期間
Keywords Alternative
the UK income tax system
trading income
basis period
Abstract Alternative
Income tax is assessed based on income generated during the tax period. In the UK income tax system, the tax period for trading income uses a unique method which is called “basis period”. With this method, income is calculated in the accounting year selected by the taxpayer, and the income is attributed to the tax year (April 6 to April 5 of the following year) to which the accounting date of the accounting year belongs. On the other hand, the Japanese income tax system is adopting a calendar year (January 1 to December 31) uniformly for all incomes including business income.
This paper describes the mechanism and problems of attributing trading income to the tax year, and explains main points of the basis period reform currently in progress in the UK. I will discuss the significance of this reform and its implications for Japan.
Content Type
Departmental Bulletin Paper
Text Version
publisher