Self employed tax

[markqprman]

Just found out we should have been putting down as a expense for the business the life insurance plans we have in place for the partners.
Did not know it was tax deductable.

Can anyone tell me if we will be able to claim the whole amount we have paid in the last 9 years in this years tax form?

[anniebird]

There is normally a 6 year limit on such claims. Get your Accountant to contact HMRC as soon as possible so that you can get as much back as possible.

[hev]

You will have to make amendments for each year separately and the tax office will only go back six years so it is from tax year 02/03 onwards. Just send the amendments by letter indicating the changes that need to be made on each year with a brief explanation.

[calculator]

make sure the beneficiary of the policy is the parrtnership.

if the the spouse is a beneficiary, the partner could become liable to benefit in find(p11D)

both cases it is claimable.

[Tom Braider]

I think you'll have to use the "error or mistake" rules for years before 2004-05. See http://www.hmrc.gov.uk/manuals/itcmanual/ITCM1 2005.htm