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Related UK Tax Questions
I have a client who has outstanding income tax returns for
I have a client who has outstanding income tax returns for the year 5.4.2008 and 5.4.2009. During this time the client was surving a prison sentence from September 2005 to November 2011, hence no inco… read more
bigduckontax
bigduckontax
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Hi Tony Tax, a question re cessation on 31/7/13. I am reviewing
Hi Tony Tax, a question re cessation on 31/7/13. I am reviewing a subcontractor's work and my client has ceased trading and supplied records up until 31/7/13 when they ceased - probably more correctly… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
my first accounts are16/8 2011 to 31/10/2012.whats my basis
my first accounts are16/8 2011 to 31/10/2012.whats my basis periods and how do I work out my capital allowances. all AIA I think.… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi Tax consultants, these are questions about Basis Periods
Hi Tax consultants, these are questions about Basis Periods & cessation. I have a client whose tax year normally ends on 28th Feb. He ceased trading (retired) at the end of May 2013, so I have extende… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I ceased trading in 2011 and made a loss in that year. Please
I ceased trading in 2011 and made a loss in that year. Please could you tell me what I put in this section You have said that you made income tax losses in the tax year 2011-12. Please complete the fo… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Profits for years ended 30thJune: 1994 43,627 1995 46,640 1996
Profits for years ended 30thJune: 1994 43,627 1995 46,640 1996 50,013 1997 53,385 Business ceased 30thJune 2011. Confirm overlap relief 2011/12 in sum of £40,607… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I ceased trading as a subcontractor on 31st July 2011. I had
I ceased trading as a subcontractor on 31st July 2011. I had been trading since the early 1990s and the oldest records I have go back no further than 2007. My basis period for SA turnover has always b… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
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I have completed the accounts of a long standing partnership
I have completed the accounts of a long standing partnership between A and B for the y/e 30/09/11. Taxable profits are split A 60% and B 40%. Let us say the profits were £40,000 i.e. £24,000 for A and… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
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My client ceased trading as a childminder on 22.10.2010. The
My client ceased trading as a childminder on 22.10.2010. The accounting year end is 30th.April. I would be grateful if you will let me know the final tax assessments. The profits and capital allowance… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
468 satisfied customers
OVERLAP RELIEF CALCULATION BUSINESS STARTED 6-4-07 YEAR ENDED
OVERLAP RELIEF CALCULATION BUSINESS STARTED 6-4-07 YEAR ENDED DATE 30-4-08 ADJUSTED PROFIT £14701 07-08 ASSESSMENT £13794 IS THE WHOLE AMOUNT OF £13794 USED AS OVERLAP RELIEF WHEN BUSINESS CEASED? DAT… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
OVERLAP RELIEF CALCULATION BUSINESS STRATED ON 1ST DECEMBER
OVERLAP RELIEF CALCULATION BUSINESS STRATED ON 1ST DECEMBER 2000. ACCOUNTS YEAR ENDED DATE 30TH NOVEMBER EACH YEAR. ACCOUNTS CEASED TRADING 31ST OCTOBER 2009. Q1 WHAT IS THE RELEVANT PERIOD FOR THE CA… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Sir/Madam Good evening. I have a client who commenced self
Sir/Madam Good evening. I have a client who commenced self employment in November, 1993 and ceased trading on 30.4.2009. I am looking at claiming Overlap Profit Relief on cessation and carrying back t… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
My client has traded for many years and ceased trading on 9.7.2010. The
My client has traded for many years and ceased trading on 9.7.2010. The accounts year end is 30th.April. The taxable profits before capital allowances are 30.4.2008 £22811 30.4.2009 £24773 30.4.2010 £… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I ceased trading on 31.12.2008. I started on 1.2.90 and my
I ceased trading on 31.12.2008. I started on 1.2.90 and my first accounting period was 15 months to 30.4.91, profit 96056. Can I now claim any overlap profit relief for this period and how much?… read more
Julie Kingham
Julie Kingham
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Question1 For an LLP which changed its ARD from June to December
Question1 For an LLP which changed its ARD from June to December and for the year ended 30 June 2007 had a profit of £53,805 and for the six months to 31 Dec 2007 had a profit of £46,172 but for the y… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
Could you confirm if I am correct Partnership commenced 1
Could you confirm if I am correct? Partnership commenced 1 Nov 92, ceased 30 Apr 08. On tax returns 2009/10 are able to claim Overlap Relief on following basis... Taxable profit y/e 30 Apr 95 £78,406 … read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
Overlap relief transitional arrangements Year Ended 30/09/05
Overlap relief transitional arrangements Year Ended 30/09/05 Profits = £20344 Year Ended 30/09/06 Profits = £18872 Year Ended 30/09/07 Profits = £19391 What is the period of overlap relief and the cal… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
we are contractors in the building industry and we have been
we are contractors in the building industry and we have been told that we have to pay not only are tax for up to june 08 but pay in advance are tax for up to june 09, half now and half in july. Is thi… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
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