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Commencement Rules

je55ie · 2010-10-13 19:57:10

Hi all just trying to get the commencement rules clear in my head. So here goes sole trader commmenced trading 20 April 2009. First year of assessment: April - Dec 2009 Second year: April to Dec 09 + Jan - Mar 2010 Third year: Jan - Mar + Apr -Dec 2010 Now I have done the accounts as follows to coincide with the tax year…

13-10-2010 7:57pm

#1

je55ie

Closed Accounts Posts: 423 ✭✭

Join Date: January 2008

Posts: 370

Hi all just trying to get the commencement rules clear in my head.

So here goes sole trader commmenced trading 20 April 2009.

First year of assessment: April - Dec 2009
Second year: April to Dec 09 + Jan - Mar 2010
Third year: Jan - Mar + Apr -Dec 2010

Now I have done the accounts as follows to coincide with the tax year and make my life easier.

1st year: Apr - Dec 2009 (the date of commencement to the following 31 December)
2nd Year: Jan - Dec 2010 (12 accounting period in year 2)
3rd Year: Jan - Dec 2010 (accounting period ending in that year)

Can I do this ?

0

Comments

#2 14-10-2010 7:37pm

Legend100

Registered Users, Registered Users 2 Posts: 736 ✭✭✭

Join Date: June 2008

Posts: 718

Yes u can

A lot of ppl do this to avoid confusion

0