A taxpayer receiving a repayment of corporation tax or income tax self assessment will no longer receive a letter notifying them of the repayment.

From 8 April 2024, HMRC will not send a letter notifying the taxpayer or their agent that a corporation tax or income tax self assessment repayment has been made.  

The taxpayer will receive the repayment as normal.  The taxpayer can see the repayment in their online account and the agent can review the repayment on their HMRC online services for agents account.   

HMRC explains that the letter notifying the repayment often arrives after the repayment has been made. This can lead to confusion and increased contact for HMRC from taxpayers.   

For further information, see HMRC’s Agent Update issue 118.  

ICAEW’s Tax Faculty is recognised internationally as a leading authority and source of expertise on taxation. The faculty is the voice of tax for ICAEW, responsible for all submissions to the tax authorities. Join the Faculty for expert guidance and support enabling you to provide the best advice on tax to your clients or business.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *