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.
- Clothing 565 18
- US/UK Dual Citizenship 279 12
- Digita in the cloud 19 1
- Change to PAYE TAX CODE 207 7
- IHT and US resident 120 2
- Tax relief when working away 27 1
- Parent and subsidiary... 142 5
- Anybody still doing returns? 795 33
- Capital allowances on transfer of business 199 8
- Money laundering and can accountants be sued by clients if they make a report 1,235 17
- Capital Gains PPR and allocation of costs 362 16
- Designated sole Residence 166 2
- HMRC Sends Derbyshire pensioner Doug Yeomans tax demand for £4.7 BILLION! 740 15
- Anyone know what this is? 302 6
- HMRC filing meltdown? 928 27
- 'My colleague fills in his own Self Assessment" and he/she claims,x,y and z" 555 7
- Selling Capital Allowences from Self Employed to Ltd Buisness 282 9
- no utr 313 8
- client can't/won't pay 2,145 49
- Director drawings 614 32
- Form MR01 (Particulars of a charge) - does this need to be filed if you remortgage with the same lender? 956
- Underpaid VAT assessment and relation to SATR 678
- Did you realise Google will not patch android exploit ... 625
- Latest phishing scam 602
- Cashback for opening business bank acct = trading income? 440
- Auto Enrolment Questions Answered 328
- Scratch Head 266
- Loan benefit after person ceases as director/employee 258
- Sabbatical payments 219
- Negligible Value Claim 199