The Bar council, which represents barristers in England and Wales, has published taxation guidance for barristers for a number of years to help them manage their tax position. This iBooks edition has been released to coincide with changes to the tax system introduced by the Finance Act 2013, which received Royal Assent on 18 July 2013, and has been fully updated to give advice to barristers on the abolition of the seven year cash accounting rule and the introduction of a more general cash accounting scheme for small businesses.
The guidance also covers details of Her Majesty's Revenue and Customs (HMRC) rules of self-assessment and updated information on how the incomes of self-employed barristers will be taxed and what deductions will be allowed.
The Bar Council is the governing body and the Approved Regulator for all barristers in England and Wales. It represents and, through the independent Bar Standards Board (BSB), regulates over 15,000 barristers in self‐employed and employed practice. Its principal objectives are to ensure access to justice on terms that are fair to the public and practitioners; to represent the Bar as a modern and forward‐looking profession which seeks to maintain and improve the quality and standard of high quality specialist advocacy and advisory services to all clients, based upon the highest standards of ethics, equality and diversity; and to work for the efficient and cost‐effective administration of justice.
The PDF version of this guidance (the seventh edition) is available on the Bar Council’s website (www.barcouncil.org.uk). For more information contact Remuneration@BarCouncil.org.uk
