We have noticed an error in a company tax compuation for a client going back to the year ended 31 December 2007.
The company was making losses at the time and the error means that the losses carried forward in the omputaions were lower than they should have been. The company has made losses in subsequent years, but in the year ended 31 December 2011 made a taxable profit which uses up the losses.
Is it possible to amend the loss brought forward? If not is it possible to put an amendment through the current year computations? - the error related to amortisation of a grant that was included as income in the profit and loss account, but not deducted in the computaions. So, can a dection be put though this year's computation?
The "Overpayment relief provisions" appear to relate to the recovery of tax already paid and refer to a time limit of four years from the end of the accounting period (i.e 31 December 2011). In the ciircumstances as referred to above can we in fact go back further than four years?