Hitesh has been trading for many years, preparing accounts to 31 January each year. His last full

Question:

Hitesh has been trading for many years, preparing accounts to 31 January each year. His last full year of trading is the year to 31 January 2021. Identify the basis periods for the last three tax years in each of the following cases:

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Taxation Finance Act 2021

ISBN: 9781292406725

27th Edition

Authors: Alan Melville

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Question Posted: Jan 31, 2024 02:01 AM

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Hitesh has been trading for many years, preparing accounts to 31 January each year. His last full

Question:

cessation Date of (a) 31 May 2021 (b) 31 March 2022 (c) 30 April 2022 Final set of accounts 4 months to 31 May 2021 14 months to 31 March 2022 15 months to 30 April 2022

Step by Step Answer:

The basis period for tax purposes determines the income that will be taxed in a given tax year for a business In the UK a tax year runs from 6th April ...View the full answer

Taxation Finance Act 2021

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