Sole trader, many years standing, 30th April year end, plans to cease trading 31st October 2008. So his final '08/'09 taxable profits will be based upon a lengthy 10 month period of account 1st May 2007 to 31st October 2008.
Given that AIA is not claimable in the final chargeable period, I'm having a block over whether his final chargeable period means (a) his final period of account (6 months) or (b) the final basis period (18 months). If (a) then he would be eligible to claim 100% allowances for y/e 30/4/08 (whereupon I guess I should move on to balancing charge issues).
Can anyone please help?
Andrew
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Lenthy 18 months
Erratum - I meant to say a lengthy 18 month period, not 10 months, in the first para of my question.