Accounting

Backdating Capital Allowances for Income Tax Payers

I get asked this a lot, hence the reason for this brief post.

Capital allowances claims have a time limit, believe it or not. The absolute deadline is the second 31 January following the end of the tax year in question.

For example, if a tax year ends 5 April 2011, the deadline for a capital allowance claim is 31 January 2013. This, incidentally, is also the deadline for an amendment to a tax return.

The HMRC refers to the above in CA11130 under General: claims: Income Tax.

About Phoenix Debola Accountancy Practice

Accountant | Tax Specialist

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