Forgot to add some items to accounts

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    Forgot to add some items to accounts

    I forgot to add some items to my accounts for the year just ended. Can I add them onto this years accounts?

    #2
    How much are these missing expenses?

    Comment


      #3
      about £700

      Comment


        #4
        Not a great expert but my understanding is that you are supposed to do it as a correction rather than carrying it over to next year.
        There is a fine line between irony and stupidity. If I say something absurd please assume that I am being facetious.

        Comment


          #5
          The maximum tax is ~ £300. And it's you who are losing out not HMRC.

          Assuming it's not a company nor different tax rates in the two years, I cannot see HMRC being overly concerned.

          However, if it's worrying you, why not contact HMRC for their reaction?

          Comment

          Latest Activity

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          • Reply to Is it an allowable expense or capital expense
            by AndrewDod
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            25-05-2022, 09:25 AM
          • Is it an allowable expense or capital expense
            by shipboard
            I rent out a single property, during the winter storms the brickwork was damaged and the cheapest option to repair it was to render the Gable end and rear of the property. I tried to claim on the insurance but they maintained it was due to wear and tear, I am of course disputing this. My question is...
            24-05-2022, 10:04 AM
          • Reply to Is it an allowable expense or capital expense
            by Another Fine Mess
            If you dont mind me suggesting, If your Insurance Company is rejecting your claim you could get in touch with a Chartered Loss Assessor who would argue with the Insurance Company Loss Adjuster, its worth a phone call to one.
            24-05-2022, 16:30 PM
          • Reply to Is it an allowable expense or capital expense
            by gnvqsos
            I think the insurance company were right-the render must have been distressed to suffer storm damage. You can offset cost against income.
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            by Gordon999
            Hmrc rules allow transfers between spouses without cgt. The recipient spouse takes on the asset at the original purchase price.
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          • Reply to Is it an allowable expense or capital expense
            by Gordon999
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          • Reply to Is it an allowable expense or capital expense
            by jpkeates
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          • CGT query
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          • Reply to CGT query
            by jpkeates
            What you are planning to do is routine and HMRC will accept the change as a matter of routine admin.
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          • Any property tax experts you can recommend please?
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