A progressive, South West based accountancy practice

Corporation Tax refund

Steve has managed to secure a tax refund for a company client. Investigating the motor expenses in the draft accounts, Steve discovered that three new vans had been acquired during the year and a deduction for the full cost was made using capital allowances rules. This created a loss which was “carried back” against last year’s profits.

The result is one happy client; no tax to pay and a refund of over £2,000 to help them through this COVID-ravaged period.