The following Owner-Managed Businesses guidance note by Tolley provides comprehensive and up to date tax information covering:
Claims which are made on the tax return include losses, group relief and capital allowances (this is 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.
Other claims not made on a CT600 include overpayment relief and special relief. These are covered in more detail below.
Essentially, overpayment relief provides a mechanism for amending errors or mistakes. A claim for overpayment relief can be made where a company has paid, or been assessed for, corporation tax which it believes is not due. The claim must be made within four years of the end of the relevant period. If a claim is refused, an appeal may be made in writing to the tribunal within 30 days of the notice of refusal.
The situations where an overpayment claim cannot be accepted are listed in FA 1998, Sch 18, para 51A. These are where:
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