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Paying back Tax Overpayment using a Business Account
newmoneysaver2012
Posts: 8 Forumite
Hi, my first question is - Can you pay back a Tax Overpayment using a Business Bank Account rather than a regular Current Account?
I think HMRC normally ask you to pay the money back via the same account they pay your Tax Credits into yes (?). But as i have no money in that account - will it be OK to pay them using my Business Account?
If so, what will these payments 'come under' when assessing my accounts etc?
I think HMRC normally ask you to pay the money back via the same account they pay your Tax Credits into yes (?). But as i have no money in that account - will it be OK to pay them using my Business Account?
If so, what will these payments 'come under' when assessing my accounts etc?
0
Comments
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assuming you are a sole trader they will be classed as drawings. that means it is definitely not a taxable expense,0
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As above. You can pay it with the 2 pence pieces you find down the back of the sofa if you want - it makes no difference where the money comes from.0
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