Chartered Accountants
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Sectors > Barristers >

Your Catch Up Questions Answered

What Date Is It Calculated?

It is calculated once you have been accepting instructions for seven years.

When Did The Earnings Basis Commence?

The earnings basis commenced for all accounting periods beginning after 7 April 1999.

Does It Affect All Barristers?

No.  It does not affect Barristers who are in their first seven years of accepting instructions.  These new Barristers can continue on the cash basis until they have been accepting instructions for seven years.

Does The Catch Up Charge Get Added To The Current Year’s Profits?

Not exactly, but effectively it gets added to your total taxable income and is treated slightly differently than your ordinary profits.  It is spread over ten years.

Does It Count As Net Relevant Earnings For Pension Purposes?

Yes

Is It Liable To Class 4 National Insurance?

No