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    Income tax - Trading income - Sole traders - Profits - Taxation of trading profits - The continuing business - Change of accounting date - 21110

    On a valid change of accounting date, profits may be taxed more than once (creating overlap profits). To ensure relief is given for these profits the following steps need to be taken: - Identify...

    Sole traders and partnerships - Changing your accounting date - dos and don’ts

    Changing your accounting date - dos and don’tsThere is no minimum or maximum period for which the accounts can be prepared. However, HMRC does have tough rules to prevent tax avoidance. These...