If it's in your form 11 I would have thought that was sufficient. Else wouldn't revenue have questioned you already?The proof is in your earlier tax returns
Speaking only from experience, when my accountant submits my returns, he claims rental losses and had done for several years now.Unfortunately not.
Stand back from it and think; sticking something in your tax return means nothing.
If I make a loss today and use it in 20 years time, I have to retain the back-up.
Speaking only from experience, when my accountant submits my returns, he claims rental losses and had done for several years now.
We were never asked for evidence.
Evidence if needed would be required in the year person submits a return with a loss I would have thought? No point revenue accepting something unquestioned. And then tax payer tries to actually use that, Revenue says: prove it!
I believe the Revenue can look back for an unlimited period in relation to fraud and neglect, so I was told by the Lecturer a tax consultant with a big accountancy firm, when I studied Revenue Law as part of my law degree. From looking at a decision made by the tax appeal commissioners it also seems to be "guilty until proven innocent". This appears to be the case for decades.
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