FAQ's - Repayment Claims

• I have a loss this year which I am carrying back to last year, why isn't the repayment section on this year's return completed?

This part of the return should only be completed if there is and overpayment or repayment claim for the period covered by this return. In this case the loss is being carried back and the claim is for an earlier accounting period. Under this circumstance the claim should be made:

either on a separate piece of paper

or by submitting an amended return for the earlier accounting period.

For further information see Notes 145-148 on the Inland Revenue's Company Tax Return Guide.  

• Can I enter the bank details to appear on the Overpayments and Repayment Claims section?

To enter the details select Data entry | Overpayment and repayment claims | Repayment and Bank Details and click Bank Details.

The repayment amounts are calculated by Business Tax based on previous data entry.

If there are entries on this screen the small repayment and bank details are completed, even if there is no repayment due.(See Company Tax Return Guide - page 22, notes 139 - 160)

Details on this screen are brought forward from the previous period.