Tax refund opportunity
Raphael Coman
Tax accountant, Tax Returns, VAT, payroll, small company, contractor, IHT and CGT tax advice, property, finance, medical, construction and service sectors
If you think you might be due a tax repayment; and work is quiet during the lockdown; take the chance to get your Tax Returns as ready as possible. This way the Return can be filed as soon as possible after 6 April 2020 and your refund processed promptly.
If you expect income to be down in 2019-20, you may be able to reduce the payment on account already made in January. With the July payment now delayed until January 2021, this could bring forward a cash repayment from HMRC.