A partnership prepares accounts to 30/9 each year.
A new partner joins on 01/05/18.
When preparing their individual tax return for 2018/19, their basis period will be 1/5/18 to 5/4/19. The period 1/5/18 to 30/9/18 can be taken from the actual partnership accounts for that accounting period.
To calculate the profits for the overlap period (1/10/18 to 5/4/19), are they pro rata from the accounting period ended 30/9/19 or 30/9/18? 30/9/19 would be more accurate, but what if those accounts had not been prepared yet?
Confirmation of if there is a specific method that must be used to calculate that overlap period would be appreciated.
Thanks for your help!