Reducing Tax In The Previous Tax Year

Jan 09, 2018 2 Replies
M

Just completing my 2016/17 tax return. Due to some sizeable sales bonuses I got toward the end of the tax year I find I now owe HMRC a few K for the 16/17 tax year…. I am employed. Are there any (obviously legit) options open to me for Reducing the Tax In The Previous Tax Year by something I could do this year? I heard EIS’s (not vct?) can do this… though the fees / risks might not be worthwhile? I presume pension contributions etc cannot be back dated?



Thanks for any thoughts M


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T

actually pension payments can be back dated for tax purposes

or at least that used to be possible

you may find it more work that is worthwhile though

tim

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M

thanks I think pension allowances can be carried forward ... but I don't think they can be backdated (or at least anymore if they used to be able to?) ?

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