Accounts drawn up to 31 March

Accounts drawn up to 5 April

Basis period


Change of

Commercial reasons for

Conditions for basis period to end

Deduction for overlap profit

Later tax year

Third tax year

When change occurs

Year after an ineffective change

Choice of


First accounting date shortly before end of tax year

Late accounting date rules


Middle date treated as accounting date

More than one

More than one accounting date

No accounting date on tax year

Slight variations in

Tax year in which there is no accounting date