1. avatar says

    I have a question. what is the difference between Tax repayable and Tax refundable? This is because the note says If the amount deducted at source exceeds the tax liability of the taxpayer, then the tax credit is refundable.

    In Example 4 (Molly), the Tax credit of £4000 exceeds the tax liability of £1712. Can you refer to the total amount of £2288 as “Tax refundable” instead of “Tax repayable”

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