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Tax Credits and 2 Accounting Periods

Client has year end 30th April and wants to change to 5th April.

I don't normally deal with tax credits and, before I plough through the manuals, I am hoping someone will have come across this.

As the total S/E figure on the 2011-12 Tax Return will effectively be 23 months, will this make the tax credits award lower?


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04th Jul 2012 21:07

i have been looking as well

i cant find anything easily but i assume that the answer is yes  its the total income less any overlap relief - frankly unless there are strong reasons to change i wouldnt risk it - if i find any further info i will let you know

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You'd have thought...

... that there'd be some of that pesky legislation stuff on the subject somewhere, wouldn't you?

(The references to Schedule D have subsequently been replaced by appropriate references to ITTOIA, but I'm sure you'll get the general gist)

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