Can I claim this year for expenses from previous tax year? I forgot them on my tax return.?

Question

I'm self-employed.
I already filed my tax return for y/e 1996 but have now realised that I didn't claim all the expenses I should have.
Can I claim them in the next return?
Thanks.

Answer 1

I assume you meant to type 2006?

No, you can't claim them in your 2007 return although (and I haven't said this, mind) if the amounts are small I doubt they would be noticed.

The correct procedure is to amend the 2006 return, which you can do up to 31st January 2008. After that date you would need to submit an error or mistake claim (used to be under section 33 unless they've moved it) which you can do up to 5th April 2012.

Answer 2

Yes you can

But if it is a huge amount you should explain to Inland Revenue with a covering letter otherwise you may be one of those unlucky ones that gets picked out for a check and although it will be perfectly legal ....it would be alot of hassell and time wasted for all concerned

Im surprised you have got away with only being up to 1996 tax return!!!???

Answer 3

it ought to or ought to no longer influence what you come again. $7500 of the scientific expenses would be deductible in case you itemize. in case you have already got sufficient deductions to itemize regardless of out that, the extra deductions will save you some tax in case you owe any - perhaps around $1000. in case you will not itemize different than for the scientific expenses, they had save you much less if something. You get a usual deduction on a joint return of $11,4 hundred - itemized deductions totalling greater suitable than which will save you some tax..

Answer 4

If this is not a mistype, and you really mean 1996, no, you are too late. You can only do back 6 years.

Answer 5

I don't think the Inland Revenue will allow you to go back 10 years but write to them anyway explaining the problem; you may get lucky!

Answer 6

why you claiming from 9 years ago