Basis period adjustments

Field Description
Start of basis period  
End of basis period  
Basis period adjustment

If you have an extended period where transition profits are being included, do the following:

  1. Manually calculate the apportioned transition part of the basis period from your net business profit/(loss) — this is the value that you are entering in profit/(loss) of the transition part of the basis period.
  2. Enter here the exact value from the profit/(loss) of the transition part of the basis period but where negative, enter as positive, and if positive, enter as negative.
Overlap profits b/fwd Any overlap profits being brought forward.
Overlap relief used The amount of overlap relief to be used this year.
Overlap profits c/fwd

Displays the unused overlap profits being carried forward to the following year.

Removed from the tax year 2024 onwards due to the Basis Period reform.
Farm averaging adjustment