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Should I change year end date re MTD?
GillianD
Posts: 47
Forumite
Hi, I am already using MTD and wonder whether it might be a good idea to change the year end for my husband's business (Sole Trader turnover £50k) from 31st December to 5 April.
Thoughts please?
Thank you in advance.
Thoughts please?
Thank you in advance.
0
Comments
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Seeing as how you need to report for a tax year anyway from April 2024, why not change?1
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Yikes not meant to report!
Thank you for that0 -
is it true I just need to do this in my accounts package and dont need to inform companies house?0
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If you're talking about a sole trader's accounts, why would you talk to Companies House? Did you mean HMRC?
Have look at this link as an introduction to what the change in reporting year is all about
Changes to reporting income from self employment and partnerships - GOV.UK.0
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