I left a paye job in Oct 18 and started a Sole Trader business & I'd like to run my accounting year to 31st Dec. I have 2 queries: do I compile my first set of accounts to cover just those 2 months of trading or am I required to wait until 31st Dec 2019 and compile accounts for 14 months? if the former is acceptable and given I made a loss during this 2 month startup period, can I offset those losses against the paye paid in 2018/19 when I complete my self assessment return?
Thanks
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