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basis of assessment

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › basis of assessment

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by Tax Tutor.
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  • June 23, 2020 at 7:07 am #574501
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    sir is it necessary for a sole trader to maintain 12months accounting period after the opening period of accounting ends? or the individual can very well manage to operate 9months(let’s say) period of account for as long as it continues but just file tax as per CYB basis

    June 23, 2020 at 1:23 pm #574531
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    It is quite possible that an unincorporated trader may choose at a later date to change their accounting date and there are special rules that deal with this – happily for you outside of our syllabus!

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