I have a client who commenced trade on 01.02.12 and her past accountant filed an estimated return stating accounts would be prepared and resubmitted to the 31.03.2013.(He didnt prepare the accounts in the end)
I would usually of prepared the tax return to 05.04.12 ie commencement to the first tax year and then used the tax years.
As there has been no accounts prepared and only an amendment filed, would you think it would be ok for me to do this
-- Edited by books2013 on Thursday 30th of January 2014 12:20:57 PM
If a sole trader you are going to need to consider basis periods and possible double taxation.
Limited companies are more simple.
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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.
Hi its is a sole trader and as no accounts have been prepared yet, I would have prefered to prepare a small account from 01.02.2012- 05.04.2012 then a set for the normal tax year. As the estimated tax return has been put in stating the acc period is 01.02.2012 - 30.03.2012 should I stick with this? Many thanks
