ATT concerned over HMRC tax rethink The Association of Taxation Technicians (ATT) has voiced concern over new rules on how sole traders and partnerships are taxed. Starting in the 2024/25 tax year, profits will be assessed based on the amounts earned across the tax year concerned, rather than the accounts ending in that tax year. While the change aims to make reporting profits simpler, fairer, and more transparent, the ATT fears that the move will create complications and lead to increased tax payments. HMRC is expected to provide guidance on adjustments to working practices during the transition.