Frank began trading on 1 July 2018. Identify the basis periods for his first four tax years
Question:
Frank began trading on 1 July 2018. Identify the basis periods for his first four tax years if he:
(a) chooses 30 June as his annual accounting date and prepares his first accounts for the year to 30 June 2019
(b) chooses 30 April as his annual accounting date and prepares his first accounts for the 22 months to 30 April 2020
(c) chooses 30 April as his annual accounting date and prepares his first accounts for the 10 months to 30 April 2019.
Also identify any overlap periods which arise in each case.
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a 201819 201920 202021 CYB 202122 CYB Actual 1718 to 5419 ...View the full answer
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