1. avatar says

    Hi Guys

    I have a question .. appreciate if someone could post an answer ..

    Q . C Ltd commenced trading on 01.01.2012 closes first accounts on 30.09.2012

    How would I judge the period in this question since the Co. is still to complete a full 12 months trading …


    • avatar says

      As per me, Since the trading is starting on 1 jan 12. the first year should be with actual profit. So since the tax yr is 6 april to 5 april., The first year which is 2011/12 ( since its before 6 april ). would be 3 month of profit only which is jan,feb and march. and in the 2nd yr 2012/13 its has a yr end ( 30.9.12), but its less than 12 month. so have to take full one year from the day it started the trading. means from 1 jan to 30.9.12. which would be 9 month and have to add three more month profit from the 13/14 tax year. please note their will be a over lap also.

  2. Avatar of Chris says

    Hi Sir,

    is there an error on the example answers for example number 9…. You have calculated the correct allowance at 18% on the car but have not carried it across to the claim column correctly… Or am i missing something inbetween? Thanks.

    P.S – its on the allowance of the car at 18%

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