Self assessment accountiing period

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carolyn
carolyn Registered Posts: 29 Regular contributor ⭐
edited June 18 in AAT member community
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.

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  • douglasstroud
    douglasstroud Registered Posts: 310 Dedicated contributor 🦉
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    Basis periods depend on when your client first started trading
    What date did her business commence?
  • carolyn
    carolyn Registered Posts: 29 Regular contributor ⭐
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    douglasstroud said:

    Basis periods depend on when your client first started trading

    What date did her business commence?

    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
    douglasstroud Registered Posts: 310 Dedicated contributor 🦉
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    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 profits

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