Self assessment accountiing period
Hello, all.
I have a question about Self assessment accountiing period. My client has her own accounting period from Dec 2018 to Dec 2019. When I submit her SA, shall I do two tax returns? One is from Dec 2018 to April 2019( 2018/2019 financial year). the other one is from Dec 2018 to Dec 2019(2019/2020 financial year)? Many thanks.
Caroline.
I have a question about Self assessment accountiing period. My client has her own accounting period from Dec 2018 to Dec 2019. When I submit her SA, shall I do two tax returns? One is from Dec 2018 to April 2019( 2018/2019 financial year). the other one is from Dec 2018 to Dec 2019(2019/2020 financial year)? Many thanks.
Caroline.
0
Comments
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Basis periods depend on when your client first started trading
What date did her business commence?0 -
Her business started from Dec 2018. she has never done any SA tax returns. This is the first time. So i am thinking i should do two years tax returns for her.douglasstroud said:Basis periods depend on when your client first started trading
What date did her business commence?0 -
The yes like you said,
Dec 18 to 5th April 19 (2018/2019 tax year) which is late
And Dec 18 to Dec 19 (2019/2020 tax year)
Which means that your client will be paying tax twice on 3 or 4 months profits0
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