Saturday, August 13, 2011

Do i need to file a tax return if I am a new business with expenses but no income?

Normally accounts are prepared after the first year of trading and the income apportioned to the various tax years, however for simplicity a lot of people adjust their trading year to the financial year i.e. 31st March. If you incurred losses you may offset them against total income or carry them forward against future earnings.

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