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has anyone any suggestions to deal with a

i have recentlly  12/04/2010 filed returns for a client covering the years 2005/06 until 2009/10.

in these accounts are very significant losses for each of the first 4 years.  the records were left with us on time and the fault for late filing will reside with us , there is no tax to pay but it is the carrying forward of allowances that causes great concern. we have received confirmation that the matter of carry forward of allowances is being presently reviewed by hmrc.

obviously any assistance would be appreciated

  

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17th May 2012 21:27

Can I suggest

that you put the full amount of carried forward losses in the 2011 Tax Return (amended) together with a note in the white space.  Make sure that you have rental accounts to back the figures up.  I cant see HMRC will get too excited since there has been no loss of tax, but I would welcome any others with differeing views.

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By elyob
18th May 2012 19:27

thanks paul...i havent received notice of them being allowed or disallowed.  

there is as you say no loss of tax but if allowed now there would be a reduction in present tax which there always should have been in an equitable manner.. except for the time bar,        which is to do with the administration of tax collection and not the computation of tax.... i suggest.. any views about!

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