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Can someone please explain what the basis reform means if you use different accounting dates?

Answer
sylvanbird
Posted 3 months ago by sylvanbird
Sole trader that has been using 1 Jan - 31 Dec as accounting dates, as also do US taxes and it's much easier to only sum things up once. I'm seeing a 'basis reform' - what does this mean? Can different accounting dates no longer be used?
HMRC Admin 1 Response
Posted 2 months ago by HMRC Admin 1 Response
Yes. going forward your accounting period will need to match the UK tax year 6/4-5/4.

Please see guidance at: Basis period reform - GOV.UK

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