Business Tax - Basis Period

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Sailorgirl
Sailorgirl Registered Posts: 40 Regular contributor ⭐
I need help!

For the life of me I cannot seem to understand the reasoning behind the BASIS PERIOD (chap 4 in BPP)

I have read and re-read several times now, but cannot get it, and I don't want to move on to Chap 5 until I do get it.

Can anyone explain it in very simple terms?

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  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    If you are using BPP I think they give you a flow diagram, the only way to deal with this is to learn that diagram, there is no sensible reasoning - that's just the way it is!!!

    I found that once you learn that and do lots of practice you will never forget it.
  • Sailorgirl
    Sailorgirl Registered Posts: 40 Regular contributor ⭐
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    I have it open right now, and like you say, just learn it.

    Cheers
  • Jo Clark
    Jo Clark Registered Posts: 2,525 Beyond epic contributor 🧙‍♂️
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    Yes - there is a flow diagram for the first three years in the BPP study material.

    I agree that once you learn the rules and practice them, you will never forget.
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
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