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Hi, This is similar to an earlier query except I have inadvertantly taken it further!
I did my clients accounts last year and dated some of the last receipts for the 3rd April. I printed it all out, checked it and did his tax return. This year I entered all his receipts and expenses and again printed it all out and did a draft of his tax return, BUT on checking I stumbled accross an error. Those recepts with a date of 3rd April did not appear in last year's printouts but with this year's as the software goes to 31st March for the financial year not 5th April. In future I can work round this but the problem is now.
I have entered £500 too little on last year's return as a result. I can think of three possible solutions bearing in mind that over the two years the amount of tax and NI will be the same no matter which scenario is used. I will have to phone the tax office anyway as my client opted to pay the tax via his tax code and this does not appear to have happened.
Possibility 1. I leave last year's return as it stands and enter the extra receipts on this year's. I could also make a note in the return that this is what has happened.
Possibility 2. I amend last year's return and the date for the offending payments in Quickbooks so that I enter this year's figures without problem.
Possibility 3. I phone the tax office and ask thm what I should do.
Has anyone else had to deal with this? What should I do?
Thanks.
Macclesfield
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