They incurred around £10k of qualifying expenditure in 16/17 and around £5k in 17/18. They did their own tax returns then and didn't claim any AIA or WDA's in either year. So the ability to claim any CA's on the £10k incurred in 16/17 is now lost...and a week left to claim WDA's on the 17/18 expenditure?
.Monthly thresholds
£ per month 2018 to 2019 2017 to 2018 2016 to 2017 2015 to 2016
Lower Earnings Limit (LEL)
Employees don’t pay National Insurance
but get the benefits of paying £503 £490 £486 £486
Thanks All. Yes, doesnt look like any option to include salary in the accts...never comfortable with opening up a previous tax year purely to 'correct' something
My answers
Yes correct
Thanks Ruddles...much appreciated for the nudge
Well, as the lead singer of U2 once said, what use is a mind if you aren't prepared to change it..
on the basis they are directly attributable to the house being built I've got them in WIP..
I agree.
And no, which makes me think they are mistaken
Thanks for your reply
They incurred around £10k of qualifying expenditure in 16/17 and around £5k in 17/18. They did their own tax returns then and didn't claim any AIA or WDA's in either year. So the ability to claim any CA's on the £10k incurred in 16/17 is now lost...and a week left to claim WDA's on the 17/18 expenditure?
The monthly LEL threshold is £490
.Monthly thresholds
£ per month 2018 to 2019 2017 to 2018 2016 to 2017 2015 to 2016
Lower Earnings Limit (LEL)
Employees don’t pay National Insurance
but get the benefits of paying £503 £490 £486 £486
Ok some say its ok to put through Salary of 12 x 490= £5880 with CR to DLA. Others say no. Hmmm
Salary below the LEL is a good idea...not optimal but thanks
Thanks All. Yes, doesnt look like any option to include salary in the accts...never comfortable with opening up a previous tax year purely to 'correct' something