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Post Info TOPIC: Tax returns when the accounting year is not April to April?
rachel_mclean


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Tax returns when the accounting year is not April to April?
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Hi I have a tax return to do where their year is Oct 2010 to Sept 2011. Is this tax return done in exactly the same way as an ordinary tax return? but do I fill in the actual dates Oct 10 to Sept 11 as the dates of the basis period on the 1st page of tax return?

 

Thanks in advance for your help



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Rachel
MarkS


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Will depend on what period of accounts they are.

If it is in the first few years there are special rules as to what period is assessed.

If the business has been going a while then the 12 months to Sep 11 will form the basis of the 2011/12 tax return being that it is a 12 month period ending in that tax year.

Regards

MarkS



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
Merlin


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Are there any overlap profits? If so, changing to a March 2012 year end may not only make your life easier but also entitle your client to some overlap relief (I'm assuming this is a sole trader)

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Fred Coleman MAAT

Semper in faecibes sum, sole profundum variat.
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