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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 7528
Experience:  FCCA FCMA CGMA ACIS
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I have a very small one-man travel business. Clients pay

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I have a very small one-man travel business. Clients pay their deposits in the year before they take their holiday. Do I need to put their deposits on the tax return for the year they were paid or do I carry them over into the following tax year when they actually take their holiday.
JA: Which tax year are you filing for?
Customer: 2018-2019
JA: Anything else you want the Accountant to know before I connect you?
Customer: nO thank you

Hello, \i am one of the experts on Just Answer and pleased to be able to help you with your question.

 

I would be inclined to treat them a payments in advance and bring them into account when the full fee is paid.

Customer: replied 10 days ago.
So is that allowable Bt hmrc?

Yes, of course.

bigduckontax and other Tax Specialists are ready to help you

From long experience I think you will find it easier to ring me. I am on 01750 725420.

I think we covered everything in the telephone call.

 

Thank you for your support.