Business tax help needed

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:28AM in AAT student discussion
Can some body please try and explain to me how to work out and understand how to do taxable profits for tax years ending and the overlaps........ : (

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Business tax help needed

    This took me ages to grasp. the only answer is to practice, practice practice.<BR><BR>Using the road map helps:<BR><BR>Tax yr 1 - Basis Period = Start Date to 5th April end tax year<BR><BR>Yr 2 - Is there a period of accounting ending in the second tax year?<BR><BR>Yes - How long?<BR><BR>Less than 12 months = perios id first 12 months of trade<BR><BR>More than 12 month = Period to Accounting dates in 2nd year<BR><BR>No = Basis Period is 05/04 - 04/04 for that tax year.<BR><BR><BR>Not sure if this helps - if you want anything else, email me<BR><BR>mchhody.1@btinternet.com, cant promise to be of much help but it took me ages to grasp these so i'm on a mission to help the rest!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Business tax help needed

    Sorry roxy - should be mchoody.1@btinternet.com

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