Your accounting date and the tax year

The tax year runs 6 April to 5 April. Your accounting year may not. When they differ, one tax year draws on two sets of accounts, and Kontala works out each one's share.

If your year end is 31 March to 4 April

By default HMRC treats a year end in that five-day window as ending on 5 April. Your profits fall in a single tax year - no split, and no provisional figure.

This is the ordinary case, and Kontala applies it automatically.

You can elect to apportion strictly instead, on Settings, then Self Assessment Settings. Tick Apportion my profits strictly across tax years only if you have actually elected to: it splits each set of accounts by days, makes the current tax year provisional, and blocks closing it until the later accounts are made up.

If your year end is anywhere else

Each set of accounts is split across the two tax years it falls in, by days. The figures on screen are that tax year's share, and the screen says so - which is why they will not match the accounts you are holding.

Provisional figures

A tax year that needs accounts you have not yet made up is shown as provisional. The banner names the date the outstanding accounts run to.

You can read provisional figures, but you cannot close the tax year until those accounts exist.

Related

• Close a tax year
• Self Assessment settings
• Accounting dates and settings