Overlap Profits

noodles Registered Posts: 308 Dedicated contributor 🦉
If a sole trader changes his accounting period from April to March and uses his overlap profits.
Does he have to use all his overlap profits against his profits or loose his personal allowances
Can he perserve his allowances and c/f the balance
If he has more overlap profits than his profits, can he use part, c/f the balance and then loose his personal allowances etc

any help appreciated


  • JodieR
    JodieR Registered Posts: 1,002 Beyond epic contributor 🧙‍♂️
    Nope, I don't think there's any way you can preserve your personal allowance by restricting overlap profits relieved.
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