Technician business tax basis periods

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hello I am sturdying at technician level, business tax. I am struggling to understand basis periods and overlap profits. <BR>Can anybody help please ????

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Technician business tax basis periods

    Draw a timeline, putting in the dates for the first 3 accounting periods together with the 5th of April for each year. Then draw out on your line from the examples in your text book. It should be clearer.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Technician business tax basis periods

    Thanks I will try that !
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Technician business tax basis periods

    Basis periods are not easy to understand but when you do figure it out it will stay with you.<BR>I found it very difficult with time lines but I know they do help some students. Will have a look in my notes for any inspirational ideas.<BR>I passed the CA for business tax in December, glad I don't have to resit it. Not trying to put you off but you will need to know how basis periods work.<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Technician business tax basis periods

    Thanks, I think I am slowly getting there, we have been going over it again today in class, it is just the second year onwards I get stuck on, everyone else in class does too. Think I am a bit mad as am taking personal tax too, 5 exams in June !
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Technician business tax basis periods

    Hi hope you dont mind, but I am struggling to understand how to work out the second year of basis periods, Is there a simple way to work it out, and if so could you please explain it to me as I have my taxation exam in June and am having a mind block on this one.<BR>thanks

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