Accounting period

eddiespring

I can't find an answer to this anywhere online so any help would be greatly appreciated.
Im a freelance and am filling in my self assessment online form. My previous accounting dates were running to mid June. This year I wish to make my accounting period up to April to fit in better with the standard tax year.
Can I simply submit it with this new (shorter) accounting date for this one year (2014-15) only.
All the info I find seems to relate only to registered companies.
I'm just a very basic freelance.

WHA

No, you'll have two accounting periods for 14/15 tax year which need adding together and overlap relief deducted. On your 14/15 return you'll declare year ended June 14 (as that's the full year ending in the tax year) and also the period Jun 14 to 5.4.15, less overlap relief. Overlap relief is the period which was double taxed when you first started out as your first year to Jun xx would have been at least partially taxed twice, assuming you've been trading for several years.

jimmo

https://www.gov.uk/hmrc-internal-manuals/business-income-manual/bim81035

polymaff

eddiespring wrote: »

My previous accounting dates were running to mid June. This year I wish to make my accounting period up to April to fit in better with the standard tax year.

Just out of curiosity, eddie, what actual benefit do you hope to get from this change to April the something?