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  • RE: Basis period reform

    Thank you very much, Clive. That is very helpfull.
  • RE: Basis period reform

    Thank you for your replyy. This does not really answer my question, but it does point me in the right direction to, hopefully, find a solution to my query.
  • Basis period reform

    I am trying to fill in my own SA form for the first time but I am stuck at this question; "If you are affected by basis period reform, do you have a transition profit or loss to declare?" "You could be affected by the new tax year basis (also known as basis period reform) if you are self-employed (or in a trading partnership) and your business accounting year end does not match the tax year (is not on or between 31 March and 5 April). If you make up your business accounts for the 2023 to 2024 tax year to a date earlier than 31 March 2024, answer 'Yes' to this question. If this does not apply to you, answer 'No' to this question." I am unsure but I think my anwer should be NO as my business year runs from 1 June to 31 May. Any help or advice on this greatly appreciated. Thank you, Eric G