Overlap profits

Question 1

Year one - basis period

Answer 1

From start to 5th April

Question 2

Year two - basis period

Answer 2

Is their an account period in the year? Less than 12 months then first 12 months . More than 12 months - 12 months down to that date. No accounting period in the year? Fiscal year

Question 3

Transitional relief

Answer 3

Just remember to deduct it at the end