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Hello sir. I just created my open tuition and I am finding your lectures very useful.
My question is regarding basis of assessment. How would I know that a period of account is not ending in the second tax year?
Thank you very much and I am kindly asking for the reply. If you could explain it with an example I am sure I will get the answer.
You mention there that you are using the lectures – have you worked through the Chapter 6 lectures and Study Notes.
In the lectures dealing with assessments in the opening years of a new business I work examples and in addition in the Study Notes you have Examples 2 & 3 where there is an accounting period that ends in the 2nd tax year and Example 4 where there is no accounting period that ends in the 2nd tax year which again are reviewed and explained in the lecture.
The question is simply a matter of fact about dates – what are the dates of the tax year and is there an accounting period that ends in that tax year
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