I have a client that's a Scottish individual who has rental income from Ireland.
Irish tax return is done by Irish agent and tax year goes to 31/12.
My client's previous adviser did the UK self assessment return to 05/04/2020. They have put in the return notes that 31/12/2019 income has been reported on 05/04/2020 return because 2020 figures were not yet available, and that an amendment is to be lodged to remove 3 months of 2019's figures and add 3 months of 2020's figures when the 31/12/2019 Irish tax return got done.
Irish tax return to 31/12/2020 has now been done and sent to me. So it's time to make the adjustments to 05/04/2020 return. (Side note - HMRC tell me a technician from their side will have to amend the 05/04/2020 UK return over the phone because I didn't submit it.)
Is this a generally accepted method of preparing the UK tax return in terms of reporting provisional figures and then going back to amend every year? Or more to the point, is there an easier yet still acceptable way?
Also not sure whether to adjust 3 months (3/12) or to the day (95/365) when doing the adjustment. Thoughts would be appreciated.