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    3. A person becomes self employed on 1/1/2013 and made up his financial statements to 31/12/2013.What is the basis period for taxation purposes for fiscal years 2012/2013 and 2013/2014.Does he need to file a tax return for 2012/2013?
    A person becomes self employed on 1/1/2013 and made up his financial statements to 31/12/2013.What is the basis period for taxation purposes for fiscal years 2012/2013 and 2013/2014.Does he need to file a tax return for 2012/2013?

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    0  Views: 289 Answers: 3 Posted: 12 years ago
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      3 Answers

      Here in the UK the tax year is from 5th April each year, so you need to do a tax return from 1st Jan 2013 to 5th April 2013 . Then you will need to do one from 5th April  2013 to 4th April 2014.

      12 years ago. Rating: 4
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        For what country? This is a worldwide forum. In the US, the basis for taxation purposes is for the year ending December 31 of that year. If he falls within the income parameters, he must file a tax return. Becoming self-employed has nothing to do with anything. He could have had $1 million in dividend income, and as a result, would have to file, or he could've worked for someone before becoming self employed..

        12 years ago. Rating: 2
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          frankie boy

          Ok,first time user....for UK
          commented 12 years ago

          Prepared and fill the tax return for the \fy 2012/2013

          12 years ago. Rating: 0
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