Cash basis expense 22 October 2019 at 4:00PM edited 30 November -1 at 12:00AM in Cutting Tax 1 reply 463 views

archiebrown6

Hi everyone


Quick question: I'm filling out a self assessment tax return, and recording expenses on a cash basis. I've been filing returns for several years now. I bought a computer in 2015, which I use solely for work. I have never recorded it as an expense before. Can I record it as an expense for 2018/19? I've read conflicting information about this and hope someone can clarify.


Thank you


Archie

Pennywise

No, on cash basis, you have to record expenses in year of purchase.