averaging farm profits | AccountingWEB

averaging farm profits



Accounts for year ended 30 June 2010 (2010/11) and June 2011 (2011/12) are both showing profit, but profits for 2011/12 are a good bit lower than 2010/11.

The result is that tax is being paid at 40% in 2010/11 and only at 20% in 2011/12.

Is it possible to claim averaging on the 2010/11 tax return nowfor 2011/12, given that we know that the 2011/12 figures are going to be less, and if so, where on the tax return do you enter the figures?


thanks in anticipation


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Not as far as I know

mwngiol |
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Payments on account

paulgrca.net |
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