What exactly is turnover?

[andy thomas]

On Sun, 15 Jan 2006, Elizabeth Dodd wrote:

> On Sun, 15 Jan 2006 16:48, Ken Wilson wrote:
>> In Australia small businesses can use cash or accural accounting, large
>> companies must use accrual accounting.
>
> The Tax Office declares that I will use cash accounting.
> If my turnover per year exceeds $1M, they may alter that to accrual. But being
> bureaucrats they don't do it straight away - they do it when you forgot all
> about it.

The UK tax office doesn't seem to say anything about this topic.

Andy