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. Profile photo 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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