Claims

By Tolley in association with Jackie Barker of Wells Associates
Corporation_tax_img2

The following Corporation Tax guidance note by Tolley in association with Jackie Barker of Wells Associates provides comprehensive and up to date tax information covering:

  • Claims
  • Overpayment relief
  • Capital allowances claims
  • Claims not made in the return

Examples of claims which are made on the tax return include losses, group relief and capital allowances (these are covered in more detail below). The claims themselves must be made on the CT600 and must be quantified in amount. Claims may be amended in the normal time limit, which is 12 months following the normal filing date.

FA 1998, Sch 18, para 54
Overpayment relief

Overpayment relief was introduced in Finance Act 2009 and applies from 1 April 2010.

Companies which consider an overpayment of tax has been made as a result of an excessive assessment because of a mistake in a return may claim overpayment relief. Claims must be made in writing to HMRC and must be made within four years after the end of the relevant accounting period.

Relief cannot be claimed in respect of a mistake in a claim or election or as the basis of the computation where the return was made in accordance with generally prevailing practice at the time the return was made.

If a claim is refused, an appeal may be made in writing to the Tribunal within 30 days of the notice of refusal.

FA 1998, Sch 18, para 51

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