Sole Trader to Partnership After the Accounting Period but Within the Tax Year

Mr Alpha is a trader until 1 February 2004 when Mr Beta joins him in partnership. The account period end date is 31 December.

Business Tax:

• Treats the business as a sole trade if the account period selected in the toolbar is the 31 December 2003.

• Treats the business as a partnership and generates a set of partnership pages with a date of commencement automatically entered in 3.7 if the account period selected in the toolbar 31 December 2004.

• If the business received any income that is returned for the tax year (e.g. taxed interest) this must be entered in the Partnership Data Entry.

Personal Tax:

• Prints self employment pages for Mr Alpha for the2004 tax year

• Prints partnership pages for the new partner for the 2004 tax year

• Prints partnership pages for all partners thereafter.