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  • 1,500+ Business Documents - Overpayment relief claim checksheet
    Overpayment relief claim checksheet Where you make a mistake in your individual, company or partnership, tax return and the time limit for correcting this under the self-assessment rules has passed, you can submit an "overpayment claim" to recover any tax overpaid. But HMRC isn't obliged to accept every claim.What are the rules?There are tough rules which specify the circumstances in which HMRC won't refund tax overpaid. Our Overpayment Relief Claim Checksheet sets them out, saving you time and effort in...
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  • 1,500+ Business Documents - Overpayment relief claim
    Overpayment relief claim Where you discover a mistake in your tax return which resulted in you paying or owing more tax than was properly payable, and it's too late to correct under self-assessment rules, you can make an overpayment relief claim. The claim must include the right information or HMRC will reject it. Letter to HMRCThis claim needs to be made in writing and include certain information (or HMRC will reject it).Our draft Overpayment Relief Claim guides you through all the information you must...
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  • 1,500+ Business Documents - Enquiry - notice out of time letter
    Enquiry - notice out of time letterTo start an enquiry into your personal tax HMRC must notify you of its intention within a deadline. Before you reply to any questions HMRC raises, check that the enquiry notice has been issued in time. If not you should respond immediately advising HMRC that it is out of time. Delivered too lateThe statutory requirement is that a notice of enquiry must be given, i.e. received by the taxpayer within the time allowed. For example, with income tax HMRC has to issue a notice by...
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  • 1,500+ Business Documents - Annual certificate of interest
    Annual certificate of interestIf your company pays you interest for lending it money, it must deduct income tax first and provide you with a certificate to show this.certificateThe interest can be paid or credited to the director's loan account on a regular basis to be drawn against later. Generally, the company has to deduct income tax at the rate of 20% from interest paid to the director. The company has to tell HMRC how much interest it has paid each quarter (using a Form CT61) and pay over any tax deducted....
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  • 1,500+ Business Documents - Wastage losses record
    Wastage/losses recordHMRC typically uses a mark-up of purchases to selling price to construct an anticipated sales figure. However, this doesn't generally allow for wastage/write-offs. So what simple records could you keep about "wastage"?Wasted stockProduct losses can take many forms: discounts and other price reductions made to specific groups of customers or in response to competition; special offers; annual sales; scrappage of stock; wastage arising from spillage, breakage, processing, perishables or inexperience;...
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