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Where Taxpayers and Advisers Meet

Delayed transaction using Paypal funded by bank account xausing confusion as to which tax year to record it in.

WD3
Posts: 4
Joined: Thu May 24, 2018 2:26 pm

Delayed transaction using Paypal funded by bank account xausing confusion as to which tax year to record it in.

Postby WD3 » Fri May 25, 2018 10:09 pm

Probably a very basic question but one I don't know the answer to at this point.
If I order something and pay via PayPal on the 27/03/2018 but the transaction then comes out of my linked bank account on the 06/04/2018, is it just personal choice which tax year I record it in as an expense?

Sole trader using cash basis accounting.

Thanks in advance.

pawncob
Posts: 4248
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: Delayed transaction using Paypal funded by bank account xausing confusion as to which tax year to record it in.

Postby pawncob » Thu May 31, 2018 12:15 pm

You paid it in 2017/18.
With a pinch of salt take what I say, but don't exceed your RDA


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