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I am self employed and normally have a 30April Accounting
I am self employed and normally have a 30April Accounting year end. I ceased trading 31/10/2015 and now want to make my Self Assessment. I therefore have 19 months to report. But the ceassation only r… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,699 satisfied customers
Second opinion] I hope you can help clear things up for me.
Second opinion] Hello, I hope you can help clear things up for me. My husband ran a business as a sole trader for many years with an accounting date/basis period of 1/7 - 30/6 each year. I then joined… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I hope you can help clear things up for me. My husband ran a
Hello, I hope you can help clear things up for me. My husband ran a business as a sole trader for many years with an accounting date/basis period of 1/7 - 30/6 each year. I then joined as a partner on… read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,305 satisfied customers
Hi Tony, my question is regarding Annual Investment Allowance.
Hi Tony, my question is regarding Annual Investment Allowance. Client bought a £10k asset in July 13 as a sole trader and on 31 August 13 ceased trading as a sole trader and transferred her assets to … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
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
My basis is 31st July 2012 and I ceased trading on 5.4.2013,
My basis period is 31st July 2012 and I ceased trading on 5.4.2013, do I show the profits for the 20 months in my tax return… 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
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
16,712 satisfied customers
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
899 satisfied customers
Hi Hope you can help. I started trading in the UK as a
Hi Hope you can help. I started trading in the UK as a sole trader on 1st Nov 2010 and did accounts up to April 2011. Can I change my accounting period to 31st October 2011 and submit this first 12 mo… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
My partner was a sole trader and his accounting date is 1st
Hi, My partner was a sole trader and his accounting date is 1st June to 31st May. I have just completed his self assessment 6/04/2011 to 5/04/2012. The figures used were for his accounts dated 1st Jun… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
If a sole trader runs his accounts to 30th September each year,
If a sole trader runs his accounts to 30th September each year, last accounts done were to 30.09.10 for his 2010/11 tax return. From 01.01.12 this became a partnership but year end is to remain the sa… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,699 satisfied customers
I have two clients 1) year end 31/07/ 2) year end 15/11/ both
I have two clients 1) year end 31/07/ 2) year end 15/11/ both have been trading for many years what is the period I need to calculate transitional relief… 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
Hi, I work as a day trader from home trading forex full time
Hi, I work as a day trader from home trading forex full time as my only source of income. How do I structure myself to pay the least possible tax? I am based in the UK.… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
i need to know how to claim back 310 days of overlap profit
i need to know how to claim back 310 days of overlap profit in a partnership that had an usually high profit for that year without waiting for the business to end. Thanks… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
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