We can help with the completion of form CT61 to claim the return of Income Tax, interest, alternative finance payments, manufactured payments from abroad and tax on relevant distributions.
When a limited company pays interest to a lender it is required to deduct tax from this payment unless the lender has permission to receive the sum gross. All of the major clearing Banks have this authority but directors and private individuals do not.
The reason for the deduction is to give the recipient a tax credit to set against the liability due on the money if they are a
As a leading firm of Chartered Accountants in Essex, Lambert Chapman LLP
The CT61Z form is required on a quarterly basis for months ended March, June, September and December with an extra form needed if the
HMRC charges interest on underpayments of tax, and pays interest (repayment supplement) on overpayments. The rate of interest paid on overpaid tax is lower than the rate charged on underpayments, and interest rates are adjusted frequently in line with commercial...
During my years of dealing with related businesses (majority being group companies) the concluding meeting point on finalising the end of year financial statements is sometimes ‘what management charges should we apply?’ To have this as a final adjustment within the...
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