What is the taxable trading profit for the tax year 2012/13?

ã‚â£48,333-explanation: the business commences in 2011/12 is the first tax year. 2012/13 is the 2nd tax year. 2013/14 is the third and 2014/15 is the fourth tax year. the accounts are prepared for 31.07.12 (profit £40,000), 31.07.13 (profit £50,000), 31.07.14 (profit £60,000) and 31.07.15 (profit £45,000). for tax year 2012.13, the basis period is first 12 months of the business (1.10.11 30.9.12) as the commencement to first year end is less than 12 months. that requires apportionment of profits from the 2 set of accounts; up to july and 2 months from the next set of accounts. that is £40,000 + 2/12 x £50,000 = £48,333.