Long Period of Account

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  4. when trying to compute the CT for the full 12month period ending 30.11.11, how is it that you have 4/12 in FY2010?
    i would have thought it should be 1/12, since the year wd hv started on 1.12.10 and then 11/12 for FY2011, pls explain

    • @mariakuforiji,

      Hey,

      Tripper me up too :o (

      It’s all to do with the Corporate Tax year which runs from the 1st April to the 31st March. The four months referred to are from the 1st December 2010 to the 31st March 2011.
      :o )

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