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FORM11 sole trader

  • 06-09-2011 8:25pm
    #1
    MAR86
    Registered Users, Registered Users 2 Posts: 59 ✭✭


    Hi there,

    I read all the other threads regarding this topic, but things aren't very clear for me.

    Sole trader started business on 15th September 2010. I filled F11 for period 15th September - 31st December.

    On 31st Oct I have to fill a new F11, what's the meaning of adjusted profit for accounting period....do they mean from 1st January 2011 to 31st October 2011? Or the accounting year 15th Sept 2010 - 15 Sept 2011?

    I still don't understand the difference between assessable profit and adjusted net profit. I understand that they usually have to be of equal value...so I suppose Adjusted net profit is Sales less Purchases (goods for resale) less Expenses (phone, repairs, interest) less Capital Allowances if any?

    Thanks a lot for your help and replies:D I hope someone will enlighten me little head


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