self assessment tax returns

paulr

I recently acquired a new client (Partnership); accounts were generated from 1st July to June 30th 2013;
accountants filed tax returns based on taking an 83% of Turnover, Expenses & Capital allowances for Tax return 2012 - 13.
My questions are 1/.What accounting period do I present for 2013-14 tax return? & 2/.Do I need to amend 2013 - 13 return due to figures being as a percentage rather than actuals?
thanks
Paul.

Gem7321

Google 'overlap relief' and 'opening year rules'. You will need to file 1 July 2012 to 30 June 2013 actuals for 2013-14 so essentially the period 1 July to 5 April has been assessed twice and will be available for relief when the business ceases.

paulr

thanks Gem, that's what I thought but I was concerned about the percentage basis being applied.
best wishes
Paul.

Gem7321

Apportioning the profit in this way is standard practice for opening year rules. I take it you are a MiP?
Good luck!