Dear Tutor,
If my employment income is calculated for the tax year 17/18 and my trading profits are from Jan17 to Dec17, in order to calculate my income tax liability - do I need to apportion my trading profits for the 9 months (April 17 to Dec17)?
Ask the Tutor ACCA TX-UK
Income tax liability
7y agoYour question clearly indicates that you have not studied the OT notes or watched the lectures on chapter 6 that deal with the bases of assessment for the unincorporated trader - you must study the OT notes and where available watch the lectures.
Re your question above - if you study the notes then the first page of chapter 6 will show you that you do NOT apportion those profits.
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