Overpayment Relief - is it possible to extend time limits?
A client came to us as he had received a letter from HMRC about the ‘VAT Initiative Campaign’. On review of his tax returns, he has been declaring turnover exceeding the VAT registration threshold since 2005/06 but has never registered for VAT.
We have now dealt with the VAT aspect and the client has paid all VAT he should have paid (plus a 10% penalty) had he been registered from 2005/06.
However, this means that his tax returns are wrong as he has overstated his turnover, but under the new time limits we can only claim overpayment relief from 2008/09.
Is there any way we can get the time limits extended back to 2005/06 given that he is paying over the VAT for the earlier years – it seems really unfair that he can’t claim back the income tax.
I expect it is just tough luck as all I can find is making claims for ‘special relief’ and I believe this is just for HMRC determinations.
- I know ... 1,208 4
- What password safe app does anyone recommend? 677 18
- Tax on principal private residence 214 4
- extra 5p per mile for passengers 218 3
- What are the typical deductible expenses? 241 2
- recovery of S455 on informal winding 127 1
- Does unpaid share capital attract s455 liability? 215 4
- Personal pension contributions 245 4
- Claiming tax relief on goodwill 316 4
- RTI Filing 946 20
- Staff entertaining or not? 253 3
- Sole Trader Start Up- Employment Help 391 5
- CGT and PPR and Lettings Relief? 213 4
- IR35 and working for an EU company 128 1
- Shareholder Loan write off 448 21
- Getting advice from HMRC 652 14
- Tax calc and NIC 214 2
- How long is filing an FPS meant to take ? 1,834 29
- German wanting to pay UK tax 354 3
- Employment allowance and service companies (outside IR35) 424 13
- Residential Property Purchase Above £750K 699
- Using Sage with Sofa Categories 469
- One man Company and closing payroll scheme as none paid 307
- Does anyone have an unwanted ICAEW wooden plaque? 270
- Goods shipped inter EU and VAT Reporting 242
- growth voucher supplier 216
- Sage 200 and Access Dimensions reviews 182
- VAT on Gaming Machines 168
- transferring simply accounting 2010 from xp to windows 7 156
- Papilio UK Equity Release Mortgages Ltd 154