OAPs have been warned that if they are owed tax by HM Revenue & Customs
they will only be able to go back claims back four years rather than five, from
Struthers said that as many as 1.5m OAPs overpay tax on income
received, and length of time claims will stretch back is shortening from the
next tax year.
“Tax repayment claim forms can be hard to understand but they’re worth
completing because if you have been paying tax for the past six years you may be
entitled to a repayment worth hundreds of pounds,” said Claire Kennedy, tax
partner at Beever and Struthers.
Transitional arrangements are in place that will allow many pensioners to
claim six years repayments until 2012, however, to be certain of this, action
should be taken now, the firm added.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy