BIM40150 - Specific receipts: refunds of sums paid as VAT: contents

This guidance is concerned with the direct tax treatment of refunds, and interest on those refunds, arising from the operation of the Value Added Tax (VAT) regime.

»Ê¹ÚÌåÓýapp majority of such refunds and interest accounted for by businesses are taxable receipts for direct tax purposes.

This is a developing area and, of necessity, guidance cannot cover all conceivable circumstances. Any case of doubt or difficulty should be referred to Business Profits.

  1. BIM40153
    Overview
  2. BIM40156
    Companies with investment business
  3. BIM40162
    Finding the right guidance � flowchart
  4. BIM40164
    »Ê¹ÚÌåÓýapp starting point for the direct tax analysis
  5. BIM40166
    Refund of output tax
  6. BIM40168
    Input tax
  7. BIM40170
    Refund received by the trader or successor
  8. BIM40171
    VAT groups
  9. BIM40172
    VAT group examples
  10. BIM40176
    Refund accounted for by someone other than the trader who made the overpayment: introduction
  11. BIM40178
    Refund accounted for by someone other than the trader who made the overpayment: payment for services
  12. BIM40180
    Refund accounted for by someone other than the trader who made the overpayment: post-cessation receipts
  13. BIM40182
    Refund accounted for by someone other than the trader who made the overpayment: miscellaneous income
  14. BIM40184
    What happens when refund is repaid to HMRC
  15. BIM40186
    What if the original VAT-paying customer is refunded?
  16. BIM40188
    Time limit for claims
  17. BIM40194
    Taxation of interest
  18. BIM40196
    Shop Direct Group v Commissioners for Her Majesty's Revenue and Customs [2016] UKSC 7