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I have a Tax question

Dragbag

Active member
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276
Location
Herts
I paid around £1200 tax on account last year, this year I bought a secondhand van and am going to claim it as capital allowance,

this cost as well as other expenditure brings my profits down to just above personal allowance.

so will I get the rebate of £1200 from tax on account from last year,?

 
I am in the same boat. Normally pay 2k jan and again in july. But this year I bought a van.

I have been caught out before with a big tax bill the following year after buying a vehicle, with no POA. So best set it aside if you do claim it back. But you can leave it with HMRC its up to you. But save it either way.

 
You normally inform them what you prefer. If you haven't then ring them and tell them.
On th self-assessment they asked for bank details in case They need to make re-payment due to overpayment of taxes, So thought it was one of the benefits of doing everything through the gate way, that they know what’s going on and things are done automatically?

 
On th self-assessment they asked for bank details in case They need to make re-payment due to overpayment of taxes, So thought it was one of the benefits of doing everything through the gate way, that they know what’s going on and things are done automatically?
If I was you and you don’t need the doe I’d just leave it there because it’s the in account the catches most people out when they haven’t got the money to cough up 

 
Turns out I didn’t have to apply for tax refund, as it’s turned up in my account this morning.. Happy days?

 

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