Hello, Season's greetings.
The UK Tax year starts on 6th April and ends on 5th April.
Now, where I pay Insurance premium of say £200.00 on 5th January 2017, should I calculate £50.00 for the Tax year 2016/2017 (three months) and carry £150.00 for Tax year 2017/2018 ?
Or should the total of £200.00 be submitted for Tax year 2016/2017 ?.
Its a real puzzle to me.
Many thanks for your responses.
The UK Tax year starts on 6th April and ends on 5th April.
Now, where I pay Insurance premium of say £200.00 on 5th January 2017, should I calculate £50.00 for the Tax year 2016/2017 (three months) and carry £150.00 for Tax year 2017/2018 ?
Or should the total of £200.00 be submitted for Tax year 2016/2017 ?.
Its a real puzzle to me.
Many thanks for your responses.