Basis Periods

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June 4, 2011 at 3:22 pm #48905
ammar92
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well i have problems on how to solve the basis periods questions!! i m unclear about them!! can anyone help?
June 4, 2011 at 3:38 pm #82942
Tax Tutor
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Please watch the video for chapter 6 from OT notes this will help
June 5, 2011 at 1:41 pm #82943
us
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could you just explain it in writting?
June 5, 2011 at 2:59 pm #82944
Tax Tutor
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This is a very complicated area and I have expained in writing in the OT notes. It is better for you to watch me work through the examples on the video. This is the best solution for you
June 5, 2011 at 3:35 pm #82945
us
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okay 🙂
in the kaplan revision kit question 7(chatru)(i) the asseseable income for 08/09 is 27000…shouldnt it be 12000?:S
June 5, 2011 at 4:26 pm #82946
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No
Year one is 2006/07 ie 1/11/06 to 5/4/07 5/18 x 40500= 11250
Year two is 2007/08 No accounts so take 6/4/07-5/4/08 = 12/18 x 40500=27000
Year three is 2008/09 so 12 months to the accounts ending in 2008/09 ie 12 months to 30/4/08= 12/18 x 40500 = 27000
2009/10 Y/E 30/4/09=12000
Hope this helps
June 5, 2011 at 4:59 pm #82947
us
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for 08/09 the 12 months ending should be till 30/04/09?
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