When claiming CA's within a tax return, is this supposed to be done 'officially' in the white space as well as in the CA entry boxes. I've just read something to that effect in an accountancy book on-line advert. In over 30 years I've never done this, nor have any partners I've worked under in various practices. I've NOTIFIED expenditure on which a CA claim is being deferred, but that's the only requirement I'm aware of.
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Salesmen make things up - breaking news
File this one with the 'It's illegal to send tax returns by email' story.
Chris Smail - www.langer.co.uk
RE: Claiming capital allowances
1) in order to take advantage of any sideways loss relief, box 40 in the property section of the tax return must be completed. If the portfolio is making a loss, the Capital Allowances part of the loss can be set-off against other taxable income in this way 2) I alwys ask clients to include a copy of our report, otherwise to add a narrative in the 'space provided' highlighting that CA's are being lcaimed and for what. Hope this helps.