Date of filing the Tax Return

[vinodkumar]

Dear all
If someone starts self employment on 01.01.05 and decides to prepare his Accounts for the first 12 months to 31.12.05, then his first basis period will be 01.01.05-05.04.05 (04/05). If his Tax Return for 2005 is due for filing by 31.01.06, how is it possible for him to file the same if his accounting year end has finished on 31.12.05? Under normal circumstances one cannot be expected to work out what profits he will have made on the last day of the year (31.12.05 in this case). By the time the self employed person has worked out his taxable profits the filing deadline for 2005 will have passed!!

I am quite confused about this. Can anyone help me understand how it works in practice and hence how the £100 late filing penalty can be avoided (for 2005 in this case)?

Mr V