Expenses not claimed in correct tax year

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    Expenses not claimed in correct tax year

    Hello,
    If I found some old expenses, say from 1 2 or 3 years ago that were not entered into my Self Assessment Tax form in the relevant tax year, can these be claimed in the coming tax year? Is there a limit on 'how quickly' you can claim expenses?

    Thanks all!

    #2
    Not sure if a delay is allowed as such, but would definitely not be allowed if it is to your advantage (e.g you forgot when you were a lower rate taxpayer, and suddenly remembered to claim retrospectively in a year when you were a higher-rate). In general you will need to submit an amendment to your previous tax return with HMRC. If it is a large amount I would do that, if a small amount I would forget it.
    Each year stands separately. You can carry forward declared losses.

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      #3
      That's sound logic - thank you.

      Comment


        #4
        Check with HMRC but I'm pretty certain you can revise the past 6 years returns.
        I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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          #5
          See
          https://www.gov.uk/self-assessment-t...ns/corrections
          I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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