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noodles
noodles Posts: 308 Dedicated contributor 🦉
in AAT Level 4 (Level 8 in Scotland)
Box 43 - if an accounting period is 01/04/2009 - 31/01/2010 as it is a short cap. why is box 43 2009, I always get this wrong and do not understand how it works. Any basic tips appreciated.
thank you

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  • Monsoon
    Monsoon Posts: 4,020 Beyond epic contributor 🧙‍♂️
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    Financial year is the year beginning 1st April

    So, for profits between 01/04/2009 and 31/03/2010, the FY is 2009.

    I realise this is in contrast to self assessment and payroll, where we are currently in the 2011 tax year, but for Corporation Tax we are in the 2010 tax year at present.

    But don't worry, tax doesn't have to be taxing ;)

    Good luck in the exams.
  • noodles
    noodles Posts: 308 Dedicated contributor 🦉
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    thank you so much for that explanation, I will never forget it now!!

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