Dear tutor, In the example 2 page 76, the question asking show the amount assessed on the individual partners for all relevant tax year of assessment. My question is why the answer showing the year as y/e 30/6/22 ; y/e 30/6/23, y/e 30/6/24 instead of based on the standard tax year from 5th April to 6th April? Thank you
The profits from the accounts to the year end June need to be given out to the partners then the basis period rules are applied to see what is assessed to tax in the tax year.