Overlap Profits

noodlesnoodles Trusted RegularPosts: 308Registered
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

Comments

  • JodieRJodieR Experienced Mentor Posts: 1,002Registered
    Nope, I don't think there's any way you can preserve your personal allowance by restricting overlap profits relieved.
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