Accrual of costs - into current tax year 14/15

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    Accrual of costs - into current tax year 14/15

    Hi all

    Is this acceptable under HMRC rules - I will go through an eviction post this tax year with extensive costs and repair work, is it ok to account for that now. I believe (but could be wrong!) this is ok if costs are actually incurred within 9 months of the tax year end...

    Thanks
    Smithie

    #2
    You can delay sending your tax return until last date at end of Oct 2015 for paper return or end Jan 2016 for internet return.

    Comment


      #3
      Originally posted by smithie View Post
      Is this acceptable under HMRC rules - I will go through an eviction post this tax year with extensive costs and repair work, is it ok to account for that now. I believe (but could be wrong!) this is ok if costs are actually incurred within 9 months of the tax year end...
      No.
      Allowances are based on costs incurred, not anticipated.
      When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
      Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

      Comment

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