Question：Ray draws accounts annually to 31 December. He decides to change his accounts date and does so by drawing up a 16 month set of accounts covering the period 1 January 2011 to 30 April 2012.

　　What is the tax year of change?

　　A. 2010/11

　　B. 2011/12

　　C. 2013/14

　　D. 2012/13

　　The correct answer is: 2011/12.

　　Earlier of:

　　2011/12 (first tax year in which there are no accounts drawn to 31 December) or

　　2012/13 (first tax year in which accounts are drawn to 30 April).

　　Year of change is therefore 2011/12.