Which year was overlap relief was introduced?
I have 1996&97 in my head, but not sure.
I have taken on a new client with a year end of 31st January, which is now ceasing 31st March, due to incorporation, so I will have 14 months to go on to Tax Return.
I have received last years copy Tax Returns from previous account, but no overlap relief shown (and client has been trading for over 20 years, with the 31st January year end).
I have asked the Revenue for the amount, but they have replied "none shown on Tax Return" (most helpful.....), so I am going to work out the relief myself, but can not remember which two years profit you use in your calculation.
I think it is 31/01/96 & 31/01/97 - does anyone know if this is correct?