Tax & Accounting News

New timetable for tax refunds

26/08/2009

Taxpayers are being reminded that the time limit for claiming back overpaid tax is being reduced from six to four years.

While it is normally simpler to make claims when the tax return is submitted, it is also possible to claim back tax at a later date, if required.

Next year will mark the transition between the old and new time limits, meaning anyone who has a claim for the tax year 2003/04 must submit it by 31 January 2010, claims for 2004/05 must be submitted by 31 March 2010 and claims for 2005/06 need to be filed by 5 April 2010.

For more information please contact us.