vstyles
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RE: Refunding invoice from previous tax year
I assume that the cost of processing the refund (PayPal fees) would also need to be moved back to the relevant tax year? Or would that come off this year’s turnover? -
Payments on account
Hi, I completed and filed my 2023-24 tax return yesterday and I don’t owe any tax. If my balance doesn’t update before midnight tomorrow cancelling off the payment on account it says I owe, can I just not pay it (because I already know I don’t owe it) or will I be charged a penalty for not making a payment on account I would be refunded anyway? -
Refunding invoice from previous tax year
Hi, if I refund an invoice that was paid by a customer in the previous tax year, does the refunded amount come off my turnover for the current tax year?