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?
Forgot to add some items to accounts
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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.
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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?Tags: None
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by Gordon999If you purchased a building shell , and had the builder carry out the refurbishment work , then enter all expenses as an improvement in your records. You paid the builder by cheque and should have kept bank statements to show all payments .
No need to break down the cost into operating...-
Channel: Tax Questions
02-07-2022, 11:59 AM -
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by DroidEggI purchased a shell of a house that was structurally sound but needed complete refurbishment. The house had been ransacked many items. eg All the radiators & copper pipe had been ripped from the walls.
A builder completed all the work from start to finish. The final cost was an all-in job...-
Channel: Tax Questions
02-07-2022, 10:33 AM -
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by jpkeatesI'd suggest that based on that description, all of the work was probably capital.
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Channel: Tax Questions
02-07-2022, 10:43 AM -
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by vik238754Hello. Since 2013 my wife and I own a property as tenants in common where the beneficial interest split is 90% her and 10% me. We are now looking to sell the property. I have a large CGT loss and using the HMRC CGT calculator I have calculated that if I change the split to 70% me and 30% my wife...
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Channel: Tax Questions
23-05-2022, 19:37 PM -
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Reply to CGT queryby Gordon999I believe your solicitor has to prepare a Deed of Trust which transfers 60 % interest in the property from wife to you.
You need to make clear to your solicitor that Deed is for HMRC only and not for registration at Land Registry
After signing the Deed , you...-
Channel: Tax Questions
01-07-2022, 16:51 PM -
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Reply to CGT queryby vik238754The existing declaration states 10:90 beneficial interest not legal interest
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Channel: Tax Questions
01-07-2022, 13:06 PM -
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Reply to CGT queryby Gordon999The Declaration changing the beneficial interest to 70:30 is prepared only for showing to the Tax Office .
The existing registration of 10% :90% legal interest at Land Registry does not change and the Mortgage Lender has already accepted this situation. .-
Channel: Tax Questions
01-07-2022, 12:18 PM -
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Reply to CGT queryby vik238754Hi. My solicitor has told me the declaration needs to be registered with the land registry otherwise there will be no effect of creating the declaration. Is this correct?
I have also spoken to my lenders and they have mentioned they will want a new copy of the title. I mentioned to them...-
Channel: Tax Questions
01-07-2022, 10:35 AM -
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by Steve Macey1.Pretty sure I read there is no limit! and to give kids the reigns if older brcause you cant transfer losses. perhaps was a different tax i read for though
2. Can utility bills during empty periods be claimed as expenses?
3. Think I read that I can either choose the 1k allowance or claim...-
Channel: Tax Questions
15-06-2022, 01:54 AM -
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