HMRC have issued a news story addressing “How HMRC assesses profits for sole traders and partnerships who use an accounting date between 6 April and 30 March will change from 6 April 2023”.
The (fairly basic) guidance is arranged under the following headings:
- What is changing and when
- How your profits for the 2023 to 2024 tax year will be assessed
- Overlap relief (with worked example)
- Changing your accounting period
- Get more information
Related content from Claritax Books
Income Tax is a substantial single-volume guide, now in digital format, to all the income tax issues commonly faced by most accountants and tax practitioners.
