Sole trader, commenced 1/3/06, with 30th April year end, ceasing trading now 30th September.
A/c's so far were for the 14 months ended 30/4/07, which form basis periods for '05/06 (1/14) '06/07 (12/14) & '07/08 (12/14). No overlap complications as imitial accounts were lossmaking.
Subsequent large profits mean I'm planning on changing the year end to 31st March (2008) as that would be tax advantageous.
The "relevant period" (ie the basis period in this case) for 2007/08 should then become from 1/4/07 (apportioning in whole months, rather than in days) to 31/3/08. (So I would aggregate 1/14 of the initial accounts' loss and the 11 months a/c's to the new date 31/3/08).
Rationale: the "relevant period" is the period beginning immediately after the end of the basis period for the previous year of assessment ('06/07) and ending with the new date in the year of change (31/3/08).
Would anyone please care to confirm I've got that changed 2007/08 basis period right? It looks as though it should fly, but I feel as though I may be overlooking something.
Andrew