Practical tips on succeeding with FBI

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We continue our series of articles aimed to help practitioners make a smooth and successful transition from paper tax returns to Filing By Internet.

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Practical Issues

  • Repayments ' for many firms the speed of tax repayments is the single biggest incentive for using FBI. In many cases, repayments are processed within days of the return being submitted electronically.

  • Reducing Revenue errors ' another advantage of using FBI is that it prevents Revenue staff making data input errors. Errors in processing paper returns arise on a significant proportion of cases and adds an unnecessary ' and often unbillable ' burden on firms at the height of the SA filing season.

  • More time - The 30 September deadline has no significance for taxpayers using FBI as tax liabilities are calcul...
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    By squay
    05th Oct 2005 11:30

    CIS Vouchers
    Thanks David for that advice. As an FBI advocate submitting CIS25 vouchers by post has always been a pain. I am a rural practice and always post by insured SD which means a round trip of six miles to the nearest village PO. I always though it was a waste of time and money when a self assessment should be just that. Retaining the CIS vouchers in the client file for later proof if required is no hardship. As David says, HMRC have all the details on file anyway. I shall now stop submitting them and monitor what happens.

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    By Anonymous
    13th Oct 2004 17:30

    CIS25 vouchers
    We don't send the CIS25 vouchers to the Revenue.

    Some time last year, before we started FBI, we had a batch of vouchers returned with a covering letter from the local office to say that they didn't need them. Since then we've simply retained the vouchers on file in case they are called for - we don't give them back to the client as we would for other receipts. We've never had a repayment held up.

    This of course made life very easy when we started FBI in November last year. In fact, I was mildly surprised when the 2004 returns still said that the vouchers had to be sent in, but thought that it was perhaps a requirement for taxpayers who filed their own forms.

    If you think about it, the Revenue should already have full details of the tax deductions, provided that the contractors have filed their copy of the forms (!) and the Revenue processing centre has dealt with them promptly (!) and accurately (!)

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