Member Since: 6th Jul 2005
15th Feb 2011
What about the link to Self-Assessment?
I've had a couple of cases where the NPS has not been linked to the corresponding case on the SA system - resulting in repayments of PAYE (assuming full PA available when the income has been taxed at BR) with no reference whatsoever to any non-PAYE income.
(I have in each case advised the client to pay it back!)
27th Jul 2010
.....that the "technicians" don't know this, particularly since page TCSN21 in the notes to the tax calculation summary say to complete this box if "you are claiming loss relief calculated by reference to your income.......for an earlier year".
Unless by "triggering" they mean physically releasing the funds, as opposed to calculating the sum due.
27th Jul 2010
Automatic Refund - YES!
Sorry Stephen, but there IS a mechanism for getting an "automatic refund".
You calculate the amount of the refund generated by the loss carry back claim, and put the figure in box 14 on page 2 of the Tax Calculation page. This puts a credit onto the statement, though you may need to phone and request its release.
Still put the info in the white space by all means, but at least you don't have to wait until someone looks at it to get the money back.
I do this all the time and it never fails.
12th Jan 2006
Why are you "assuming" the date from which Returns are no longer required? I agree that the letter should state the year but if not, surely a simple phone call to the Revenue would clarify? Still a lot cheaper than getting a penalty notice and then spending time getting it cancelled!