Agree. You will find you have to submit returns covering a year even if the end date is changed.
PS £400k !! Grrrrrr.
-
Does changing tax year end effect corp tax
Two scenarios.
Lets say i made 300K in the first 11 months of a tax year.
And then made another 100K in the last month.
Can i shorten the tax year to 11 months and push that last month into the next tax year so as to stay within the small company rate for the year?
It doesnt seem like this should be possible but you never know.
But if thats not possible, then perhaps this is:
I make 400K in one year like above. But in first month of next tax year i lose 100K. Is it possible to extend the previous tax year by one month so corp tax is only due on 300K?
Leave a comment: