One-off COVID income tax dilemmas

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One-off COVID income tax dilemmas

Rocket CR Mike Kiev Opzk on Unsplash
You don’t have to be a rocket scientist to figure out that if you followed the standard provisional tax method – then you will have overpaid your tax in 2023 [Image: Mike Kiev on Unsplash]
A one-off spike in profits in 2022 for general practices followed by a sharp drop in 2023 is causing dilemmas for owners, a business advisor says.