Year end dates and self assessment

[Tony_Smith]

Sorry if this has been asked before. I’ve just started as a sole trader, cash basis, for some very small freelance income. My accounts year end is June 1st - so I am assuming that my first set of profit/loss would be for June 2025 through to June 2026, and would therefore be reported on my 2026/27 self assessment tax return.

Firstly, is this correct? Or do I need to notify HMRC in my 2025/26 self assessment return of profit/loss made up to April 2026?

Secondly, I purchased a laptop in June 2025 to start the business and intended to claim this against tax through the AIA. Would this go on my 2025/26 self assessment form - the year it was purchased - but without a full years profit/loss accounts to go in? Or would it go on the 2026/27 form, alongside my first trading year’s accounts?

Thanks in advance

[Eddie_B]

If your business’s accounting period doesn’t align with the UK tax year (6 April to 5 April), you must apportion your profits from two sets of accounts to calculate your taxable income for each tax year from 2024/25 onwards.

You would be much better, so if you started June 2025, to run your first year of accounts / basis period to April 5th 2026.

So from June 2025 till April 5th 2026

Then going forward, following the tax years.

AIA must be claimed in full the year it was acquired, otherwise you must use a pool for assets.