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Cessation of Trade - Penultimate Year Review

prettyrestless · 2014-11-23 15:45:43

My father was a sole trader and ceased trading in mid 2013. We completed his income tax return for 2013, and included the revised amounts of profits for 2012. As his profits were quite high for his last accounting period, he should owe additional tax for 2012. Sent off his Form 11 about three weeks ago and received his…

23-11-2014 03:45PM

#1

prettyrestless

Registered Users, Registered Users 2 Posts: 444 ✭✭

Join Date: June 2012

Posts: 414

My father was a sole trader and ceased trading in mid 2013. We completed his income tax return for 2013, and included the revised amounts of profits for 2012. As his profits were quite high for his last accounting period, he should owe additional tax for 2012.

Sent off his Form 11 about three weeks ago and received his self assessment letter for 2013, but we have heard nothing yet about 2012. Does anyone have any idea how long it will take for them to come looking for the additional tax owed for 2012?

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