SA Tax question
Discussion
Just completing my tax return, I have just noticed a problem in the spreadsheet I use meaning that I failed to include £1000 of expenses in my final calculation in last year's tax.
Is there any way I can include those expenses in this year's return in return. A rather expensive mistake
Is there any way I can include those expenses in this year's return in return. A rather expensive mistake
Eric, by legally do you mean "officially" or would it actually be fraudulent? I'm not trying to pull the wool over anybody's eyes, it's perfectly valid tax relief, just a spreadsheet formula meant I paid too much year.
GT03ROB, yes, sure, but I estimate it probably cost me £300 or so, so if I can somehow claw that back this year then that would be great. I'm morally correct, if not in any other sense!
GT03ROB, yes, sure, but I estimate it probably cost me £300 or so, so if I can somehow claw that back this year then that would be great. I'm morally correct, if not in any other sense!
NiceCupOfTea said:
GT03ROB, yes, sure, but I estimate it probably cost me £300 or so, so if I can somehow claw that back this year then that would be great. I'm morally correct, if not in any other sense!
My bad... I completely misread your post & thought you owed them money.... in which case screw them somehow!! Actually as Eric says you can submit an ammended return, I know I did this a few years ago after my SA had been submitted & accepted, due to my employer giving me duff information. It took a while to sort & I had an accountant do it, but it's clearly possible. NiceCupOfTea said:
Eric, by legally do you mean "officially" or would it actually be fraudulent? I'm not trying to pull the wool over anybody's eyes, it's perfectly valid tax relief, just a spreadsheet formula meant I paid too much year.
GT03ROB, yes, sure, but I estimate it probably cost me £300 or so, so if I can somehow claw that back this year then that would be great. I'm morally correct, if not in any other sense!
No, I really meant legally. If you put in a claim for a 2016/17 allowance but pretend it relates to 2017/18, that is a tax "fraud" in the strictest sense.GT03ROB, yes, sure, but I estimate it probably cost me £300 or so, so if I can somehow claw that back this year then that would be great. I'm morally correct, if not in any other sense!
Realistically though what would be the implications of bunging the extra £1,000 expenses in this year's return?
If you got investigated (unlikely) you can explain, fairly reasonably, why you did it, with proof of what the expenses relate to.
What would be the penalty? Can't imagine its going to be life changing? It's a question of timing and not following the correct procedure, rather than being outright fraudulent.
I'm no expert, just look at things from a simple perspective.. Me, I'd just bung them in this years return and keep the proof to hand just in case.
If you got investigated (unlikely) you can explain, fairly reasonably, why you did it, with proof of what the expenses relate to.
What would be the penalty? Can't imagine its going to be life changing? It's a question of timing and not following the correct procedure, rather than being outright fraudulent.
I'm no expert, just look at things from a simple perspective.. Me, I'd just bung them in this years return and keep the proof to hand just in case.
NiceCupOfTea said:
OK, thanks, that clears that up. So I can request that I revise a previous year's one then?
It's too late now to make a repaired return. The deadline for filing a corrected 2016/17 return was midnight last night.The way to do it now is to contact HMRC (by phone or letter) explaining what the correction should be and they will write to you.
alfabeat said:
Realistically though what would be the implications of bunging the extra £1,000 expenses in this year's return?
If you got investigated (unlikely) you can explain, fairly reasonably, why you did it, with proof of what the expenses relate to.
What would be the penalty? Can't imagine its going to be life changing? It's a question of timing and not following the correct procedure, rather than being outright fraudulent.
I'm no expert, just look at things from a simple perspective.. Me, I'd just bung them in this years return and keep the proof to hand just in case.
Yes, that's the "it doesn't matter if you do something wrong as long as you are not found out" approach. To be honest, it can work - but it isn't much fun of you ARE found out.If you got investigated (unlikely) you can explain, fairly reasonably, why you did it, with proof of what the expenses relate to.
What would be the penalty? Can't imagine its going to be life changing? It's a question of timing and not following the correct procedure, rather than being outright fraudulent.
I'm no expert, just look at things from a simple perspective.. Me, I'd just bung them in this years return and keep the proof to hand just in case.
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