My client recently died after 30 years in self-employment. He would have been doubly assessed on the first 9 months of his profits as his year end is in June. He had another accountant for the first 5 years of trading.
Does HMRC make any allowance for indexation on the twice assessed profits?
My logic is that the personal allowance and hence profits would be much lower then than now.
I have no record of the opening accounts.