Accounting date

– see also Accounting date

31 March

31 March or 1, 2, 3 or 4 April

5 April

Change after third tax year

Change in the third tax year

Changes in



Slight variations

Tax year where none


Apportion profits

Apportionment of profits

Capital allowances

Case study

Choice of year end

Double taxation relief, credit for foreign tax

Drawing up accounts

Final tax year

First tax year

First year of trading

General rule


Exceptions to


Loss relief

Notional trades

Change in accounting date


Start-up payments

Overlap profits and losses

Business start-up payments

Business start-up payments received in overlap period

Deduction for overlap profit in final year

Deduction for overlap profit on change of accounting date


Losses counted only once

Meaning of overlap period and overlap profit

Restriction for bringing losses into account twice


Second tax year

Second year of trading

Tax year where there is no accounting date

Tax year which trade starts

Tax year with no accounting date