Dear Tax Tutor,
Can you please help me to understand why there are 18 periods used to calculate tax profit, if it is only 16 periods from 1st Dec 15 to 31st Mar 17.
Also why do we use the actual basis for assessment for the tax year 2016-17 if there is a period of account ending in this year, ie. 1st accounts period to 31st Mar 2017.
Many thanks,
Olga
Ask the Tutor ACCA TX-UK
Chapter 6 / Example 4
Please check back to example and you will see that the accounting period is to May 31 not March 31 - hence the misunderstanding.
Many thanks! Sorry, my oversight.
Sign in to reply to this topic.