OT Tax Code and Accounting Periods

nxdmsandkaskdjaqd

zygurat789 wrote: »

I have never had to deal with that situation so I can't comment.

zygurat789, just to say thank you for your input, I now understand why I was not seeing this clearly.

I am hoping that someone here can give me some guidance of how to get ourselves out of this accounting timing error.

purdyoaten

nxdmsandkaskdjaqd wrote: »

zygurat789, just to say thank you for your input, I now understand why I was not seeing this clearly.

I am hoping that someone here can give me some guidance of how to get ourselves out of this accounting timing error.

I have been doing this for a lot longer than SA exists and I have never come across this one. It does, however, help to explain why you have no overlap period.

I really think that you should seek professional advice now - particularly as any amendment may lead to further enquiries from HMRC. How you explain inclusion of the accounts to December 2014 on the 2014/15 return when they have already been included on the 2013/14 return will be problematic. As in most cases it will depend on the attitude of HMRC with regard to what, strictly, have been ten incorrect returns even if no cost to the taxpayer has ensued.

Perhaps those on this forum who remain in practice will appear with good advice.

nxdmsandkaskdjaqd

purdyoaten wrote: »

I have been doing this for a lot longer than SA exists and I have never come across this one. It does, however, help to explain why you have no overlap period.

I really think that you should seek professional advice now - particularly as any amendment may lead to further enquiries from HMRC. How you explain inclusion of the accounts to December 2014 on the 2014/15 return when they have already been included on the 2013/14 return will be problematic. As in most cases it will depend on the attitude of HMRC with regard to what, strictly, have been ten incorrect returns even if no cost to the taxpayer has ensued.

Perhaps those on this forum who remain in practice will appear with good advice.

Thank you for your help. I am disappointed that I have made a mistake that no one else has.

Hopefully, someone will be able to point me in the right direction as to how I rectify this. At least we have paid our dues 12 months in advance!

purdyoaten

nxdmsandkaskdjaqd wrote: »

Thank you for your help. I am disappointed that I have made a mistake that no one else has.

Hopefully, someone will be able to point me in the right direction as to how I rectify this. At least we have paid our dues 12 months in advance!

I would doubt this. Don't forget that the vast majority of those that I would have dealt with were clients and would not be preparing their own returns.