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		<title>Corporation Tax: Delays in Refunds Causing Problem</title>
		<link>http://kingdommortgagesuk.co.uk/corporation-tax-delays-in-refunds-causing-problem/</link>
		<comments>http://kingdommortgagesuk.co.uk/corporation-tax-delays-in-refunds-causing-problem/#comments</comments>
		<pubDate>Sun, 08 Apr 2012 19:17:39 +0000</pubDate>
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		<description><![CDATA[A top accounting firm states the delay in the handing over of corporation tax refunds is causing ‘massive problems’ for companies. The amount of income tax which is getting reclaimed by businesses has seen a&#8230;]]></description>
			<content:encoded><![CDATA[<p>A top accounting firm states the delay in the handing over of corporation tax refunds is causing ‘massive problems’ for companies. The amount of income tax which is getting reclaimed by businesses has seen a massive rise, because of the state that the economy is in at the moment. If a company is finding it difficult one particular year and they’re looking to be eligible for a repayment then they could offset the losses made one year against profits which they made a previous year so they’ll then be entitled to a repayment.</p>
<p>Recently though there’s been a number of companies who have found they have to wait a lot longer than normal for their repayments on tax overpaid. According to a report from a top 20 twenty accounts company UHY Hacker Young, numerous firms have been made to wait for months and in some cases even years before they receive the repayment for the money that they’re owed. All coming at a time when businesses need the repayments because for example they might be struggling to meet other payments.</p>
<p>One tax partner, Roy Magham, at the company said that he believes in a number of cases businesses are struggling with cash problems, whilst at the other end of the spectrum, the HMRC are just sitting on their tax. Also, in a rather radical statement he said even though it isn’t particularly common it still isn’t unheard of for a business to go under whilst they’re waiting for a repayment. Additionally, he said in recent times the HMRC seem to have gotten slower at processing these claims and a wait of two or three months is quite regular.</p>
<p>For people in the industry apparently it’s no longer a surprise to people if there’s a wait of up to two years.  It’s because of these delays in the repayment of money to the businesses that cause problems to the companies involved, and also with the economy in the state it’s in, this isn’t really a good way of trying to go about repairing it. According to the most recent stats available, the amount paid out by the HMRC in tax refunds reached £9billion in the year to the end of March 2010 yet another alarming fact from UHY was the number of firms who made claims. This number dropped by 25% to an alarming 371,000.</p>
<p>Now there could potentially be a number of different reasons for this, but one of them could be that there’s less businesses running now. One thing that will annoy a lot of people is when the shoe is on the other foot, HMRC are quick enough to get your money off you. If you’re in need of a business to keep an eye on all of your accounts because you don’t have time then you ought to get in touch with <a href="http://www.liptrottandwoosey.co.uk/">Liptrott and Woosey</a>. Offering a unique approach to accountancy you can be certain your accounts will be in safe hands.</p>
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		<pubDate>Tue, 24 Jan 2012 05:18:19 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<title>Discover Where The Real Wealth Is In Property!</title>
		<link>http://kingdommortgagesuk.co.uk/discover-where-the-real-wealth-is-in-property/</link>
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		<pubDate>Mon, 23 Jan 2012 15:13:59 +0000</pubDate>
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		<pubDate>Sun, 22 Jan 2012 20:17:51 +0000</pubDate>
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