BTX basis periods question

topcat

Anyone got any ideas on this one please as i havent after staring at it for 15 minutes

Lucy_M

Hi,

The first basis period is 1/1/13 - 3/3/13 3/14ths of 105560
The second basis period is 1/3/13 - 28/2/14 12/14ths of 105560 (has to be 12 months and bring the accounts into line with future years, so I start from the end of the period and work back 12 months)

The overlap is march 1/3/13 - 31/3/13 1/14th of 105560.

Although as you can see from the answer, despite being repeatedly told in class not to worry about 31st march or 5th april, this one does, but not with the maths, if that makes sense?!

Hope that helps?

lucy x

j1994

Hi could u please help me aat assessment 2014 task 2 AIA why do we split it sometimes like if there was a 9month period why do we split 3/12 and 6/12 but other times we take the whole upper limit and * by 9/12 period ?also task 6 trading loss relief?