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Where Taxpayers and Advisers Meet

Expenses from one tax year to another

Badger9
Posts:3
Joined:Sat Apr 30, 2016 10:52 am
Expenses from one tax year to another

Postby Badger9 » Sat Apr 30, 2016 10:54 am

Hi Everyone,

Self Employed

Am I able to claim expenses from one tax year into another?

Many thanks ..

bd6759
Posts:4270
Joined:Sat Feb 01, 2014 3:26 pm

Re: Expenses from one tax year to another

Postby bd6759 » Sat Apr 30, 2016 1:08 pm

If you are using the proper accounting method, you account for expenses at the time they are incurred.
If you are using the cash basis, you account for them when they are paid.

Badger9
Posts:3
Joined:Sat Apr 30, 2016 10:52 am

Re: Expenses from one tax year to another

Postby Badger9 » Sat Apr 30, 2016 8:06 pm

Hi

Thank you so much for the response.

Is it possible (legal) to claim in another tax year?

Many thanks..

bd6759
Posts:4270
Joined:Sat Feb 01, 2014 3:26 pm

Re: Expenses from one tax year to another

Postby bd6759 » Sat Apr 30, 2016 9:09 pm

No.

Badger9
Posts:3
Joined:Sat Apr 30, 2016 10:52 am

Re: Expenses from one tax year to another

Postby Badger9 » Mon May 02, 2016 9:22 am

Cheers ..


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