Loss relief

Loss relief

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Our client ceased trading on 31st December 2009 and we submitted a loss relief claim under S388 ICTA 1988.

HMRC agreed the claim and made a repayment under the old rules and our client who is in severe financial difficulties spent this clearing debts.

As we received very little correspondence on this and no calculations on this were sent to us. We queried there calculations.

HMRC then told us that matters should have been dealt with under S89 and S92 ITA 2007 and now want there money back.

I have tried to find details on HMRC website about this but no joy so far - any thoughts would be most welcome.

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By uktaxpal
26th Jul 2011 08:37

Re-submission?

Without the exact calculations/cirumstances it is difficult to comment.

 

Could you not just re-submit the calculations with the correct citation ?

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