Business Receipts Taxed as income in earlier year

If, after your business ceased, you received any business receipts that need taxing as income of an earlier year, put you can report this by following the steps below


Click on the Investments, Interest and Dividends Page



Click on + Income



Select Business Receipts tax as income on earlier year from the drop down list



Enter the Amount




Enter the Tax Year the income is to be taxed in the format yyyy-yy



Click Save

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SimpleTax automatically tells you what expenses you should be claiming, what you should watch out for and ways to lower your tax bill.

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