TR1 Form - Accounts Date Question?

Moneyspider

Registered User
Messages
15
Hi there - I wonder if anyone can help with this? I started doing freelance work (travel) middle of 2008 & am in process of registering as self employed by filling out TR1 - not sure how to answer one question on the form:
"To what date will annual accounts be made up?"

From doing a little bit of research it looks like I can choose any date. I origninally was just going to put 31st Dec each year to tie in with the tax year but is there a disadvantage to this? Or is there another date which would be better to use from tax purposes?
Would be grateful for any extra info on this?!
Many thanks!
 
There caqn be an advantage of picking a different date to delay the time when you need to file your final tax return. But you are only delaying.