» tax year overlap with becoming employed
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my accounting period runs from 1/5 to 31/4 each year.
So for my 2016-17 return I will be submitting accounts for the period between 1/5/2015 and 31/4/2016.
From 5/4/2017, I have taken up an employed position, which means for my 2017 to 2018 return, I will have a full years employment income to declare as well as 11 months of self employment income to declare (1/5/2016 to 31/4/2017), resulting in a disproportionate tax bill.
Is there a better way to do this? Maybe by changing my accounting period. Any advice appreciated. I haven't got an accountant and usually make my own submissions.