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This article applies to:

  • Product: Digita Personal Business and Trust Tax

Use overlap profits on changed accounting date or cessation in Personal Tax

A Business Tax business or Partnership business will automatically use any overlap profits correctly on a change of accounting date or cessation of trade. Overlap profits are relieved or used on a day basis, so for overlap profits to be used on a change of accounting date, you need to enter a number of overlap days.
important
  • If the business has ceased, the actual number of overlap days is not necessary (a figure other than 0 must be entered).
  • If the accounting date changes, enter the actual number of overlap days to correctly calculate the amount used.

Business Tax business return

  1. Select
    Edit
    , then
    Schedule Editor.
  2. Select
    Sole trade
    .
  3. Double-click the business name.
  4. Select
    Business Details
    .
  5. Select the
    Overlap
     tab.
  6. Enter the number of overlap days.

Partnership tax business return

  1. Select
    Edit
    , then
    Schedule Editor
    .
  2. Select
    Business Details
    .
  3. Select the
    Overlap
     tab.
  4. Enter the number of overlap days.