How far back can you claim expenses?

Poshsalt

I've been making a game and the last 5 years its cost £10k in expenses each tax year from 2017.

Expenses are hiring people and getting artwork done.

The game should come out July 2021 this just missing the 2020 tax year.

I check the internet and get 4 years but a new accountant I'm looking into hiring says 6months which i'm pretty sure is wrong.

How many years back can I claim towards any income?

Savvy_Sue

I don't know but ... are you doing this as a sole trader? and therefore wanting to offset your expenses against tax paid on your day job? 

Or a limited company? 

Does your accountant have experience in your line of work? (If not, I may be able to give you a recommendation, DS is an indie game dev.)

Poshsalt

Savvy_Sue said:

I don't know but ... are you doing this as a sole trader? and therefore wanting to offset your expenses against tax paid on your day job? 

Or a limited company? 

Does your accountant have experience in your line of work? (If not, I may be able to give you a recommendation, DS is an indie game dev.)

Hi, it was a sole trade account and was changed to limited in september 2019.

Is DS there user name on here? What game did they do?

Thanks

Savvy_Sue

AFAIK he's not on here. His most recent release is A Monster's Expedition. I'll ask who he uses for accountancy.

Savvy_Sue

Sent you a PM

Savvy_Sue

Poshsalt said:

Savvy_Sue said:

I don't know but ... are you doing this as a sole trader? and therefore wanting to offset your expenses against tax paid on your day job? 

Or a limited company? 

Does your accountant have experience in your line of work? (If not, I may be able to give you a recommendation, DS is an indie game dev.)

Hi, it was a sole trade account and was changed to limited in september 2019.

Is DS there user name on here? What game did they do?

Thanks

I think there might be a difference between how far back you can claim PERSONAL expenses as a sole trader, and how far back you can claim for expenses incurred before setting up a limited company. 

The experts for a very specific quick question like that are on the Cutting Tax board, so you could take a look there and ask the board guide here to move it there? If I could only work out who the BG here is ... 

Savvy_Sue

BTW, do come back when you get an answer! I'd be interested to know if my theory is correct and it may help others.