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Annette commenced trading on 1 October 2017, preparing her accounts to 30 June. The adjusted profits for the first 3 accounting periods have been agreed
Annette commenced trading on 1 October 2017, preparing her accounts to 30 June. The adjusted profits for the first 3 accounting periods have been agreed as follows:
Period to 30 June 2018 12,150
Year ended 30 June 2019 10,000
Year ended 30 June 2020 17,400
Required:
Identify the tax years, the basis periods and the taxable profits for each of the above periods. Identify also the overlap profits.
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