Just doing a client's tax return and I've got receipts that should have been included in last years tax return. Is there a figure up to what can be treated as non material and included in this years returns or is it a an amendment to previous return if worthwhile. Amount I have is £465 (4 receipts) so about £93 tax.
To be fair 3 of these receipts are dated 5/4/15 so obviously the client has assumed it is in this years, but this one is a subbie as well.
__________________
John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
I have fun with clients with things like this at year end, ones are with invoices dated and the middle of the year for events well outside the year end which they won't give me, despite me saying every time that I have to do accounting adjustments for them.
You might like this one though.......
http://forum.bookkeepers.network/t62137737/receipts-from-the-previous-year/?page=1
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
That was just a query for info and I'm normally good at soaking up information, but I'd totally forgottenI'd asked that question. I'm ok on the latter two but the blooming turnover's let me down (approx 1.5%)
Thanks Joanne, hopefully next time I'll remember this little titbit.
__________________
John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Knew you would like that one. I only picked on that one cos I had a sticker from 'the boss' and wasnt in my office so couldnt quote from my usual notes!!! (yep memory failing me as I get more senile too!)
Now then - are you SURE he has done the work and its not payment in advance (deferred income - which would fall into this year?)
-- Edited by Cheshire on Monday 9th of January 2017 04:54:02 PM
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
It's purchases Joanne, sorry if I didn't make that clear, in connection with non subbie work. The subbie reference was to why I had chosen 5/4 rather than 31/3
__________________
John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
