The basis period for the year in which a person starts to carry on a trade, profession or vocation is (subject to just one exception – see below) the period from the start of trading to 5 April at the end of the tax year (ITTOIA 2005, s. 199). Thus, the period may be anything from as little as one day (a person who starts trading on 5 April) to as much as one year (a person who starts trading on 6 April).

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