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Repayment of tax

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Repayment of tax

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by Tax Tutor.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • April 30, 2017 at 7:10 am #384327
    teriki13
    Participant
    • Topics: 26
    • Replies: 22
    • ☆

    I was reading the BPP text and I came across a difference in the repayment of tax in the notes.

    According to BPP –

    “Repayment supplements runs from the original date of payment (even if this prior to the due date), until the day the repayment is made.”

    According to OT notes:

    “If tax is repaid, HMRC pay interest at a rate of 0.5% p.a. from 31 January, or if later, the date of original payment.”

    I am really confused. Which one should I follow?

    April 30, 2017 at 10:26 am #384353
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    I believed it to be the later – you can of course query issues about the BPP material with them, but it is such a tiny point I suggest you concentrate on learning the core subject areas and stop worrying about the exceptional point of fine detail which will have no influence on your final exam result.

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