£24.54 back due to CT being paid early, just now need to work out how to bring this back into the books, last years £6 cheque is still uncashed as I couldn't work out how to do it last year either!
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Originally posted by Stevie Wonder Boy -
Depends how you do your accounts, but basically enter it as a miscellaneous income item.
Technically it's taxable but not vatable.
Some people would enter it as negative corporation tax. That has a simplicity about it, but you would underpay CT next year by £4.90 or so. Personally I wouldn't worry. -
£24 is 8 four packs of Special Brew - cash it in and enjoy the 9% ride!Comment
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Not sure what's complicated about this - it's just interest income, like any other. I suppose it's a PITA that they post a cheque, but I can't see anything complicated about handling interest income.Comment
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WJBSOriginally posted by jamesbrown View Post
Also, it is accounted for in the company year that it is received (IANAA) so yes, it goes above the line and contributes to your profit (or decreases your loss) for the year in which it was received.Comment
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Mate of mine got a bill for £34k the other dayComment
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