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Tax

OOsmani5y ago
Can businesses refund their taxes?
TTTax Tutor5y ago#1
Not sure what you mean here - businesses pay taxes to HMRC - a company pays corporation tax and an unincorporated trader pays income tax. If tax is overpaid then HMRC will indeed refund tax to the "business". for example a claim to carry back a trading loss will reduce a tax liability for an earlier period that has already been paid and will therefore result in a repayment from HMRC.
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