I've asked this yesterday on the ICB forum but got no response so I thought I'd see if I had better luck on here. I should have gone with my gut instinct and asked on here first as I didn't think I'd get much luck on the other forum.
I have a client that has been going for three years now. Their tax return has been based on a financial year ending 5th April. How do people deal with Sage that wants a year to end on the last day of the month? Up until now I've 'cheated' and for anything dated 1st to 5th April I've put in as 31st March. This isn't ideal but at least the figures are correct. It has now been complicated by the client being VAT registered from the 1st April 2012 - so I wonder what others do.
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Never buy black socks from a normal shop. They shaft you every time.
Not exactly answering your question Peasie but you know the Revenue don't bother. In fact, when I first computerised and my software also defaulted to the end of the month, I swapped several clients from 5 April to 31 March.
When you say they don't bother - what do I put on the Tax Return? Do I change the period on it? Would I just end this year on the 31st March (06-04 to 31-03)? I thought they were picky about the five days.
I'll have a read at that manual later on - heading out to work just now. I don't like conventional hours - I have the keys to the office I'm working in so can work when I want. It was nearly midnight when I came home last night. The guy in the garage across the road also works weird hours. He was still there as I left. He was cleaning a white car. I've never seen a car as clean as that one. Only in a factory would you see a car that clean.
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Never buy black socks from a normal shop. They shaft you every time.
Don answered it perfectly......as per the link ........"accounts drawn up to 31 March, or 1, 2, 3 or 4 April are treated as equivalent to accounts prepared to 5 April unless the trader elects otherwise"
I use a mix of Sage and VT and use 31st march year end for sole traders tax returns in Sage. When submitting the Tax Return I input the "date accounts made up to" as 31st march. No issues.
It is however one of those small things that niggle me about Sage, if VT can do 5th April year end why can't Sage?.....
f VT can do 5th April year end why can't Sage?.....
To my mind it's because VT's a better product
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
