Repayments: issue repayment: freestanding credit created manually from a brought back claim (Schedule 1B TMA 1970)
Note: Freestanding credits are automatically created for Schedule 1B brought back claims made in the first version of a return from 2001-2002.
Effective date of payment (EDP)
For set offs, the later of
- The date the valid claim for relief was made
- The relevant due date of the charge against which the relief is to be set
Note: The freestanding credit(s) should be used to clear any outstanding charges for the return year first in the following order; balancing charge debit, then payment on account 2 (POA2), then payment on account 1 (POA1), before being set-off against any other outstanding charges.
- The fixed filing date of the earlier years return plus 1 year, for example, claim made to bring back losses / pension contributions from 2005-2006 to 2004-2005, EDP is 31/01/07
Note: Freestanding credits created automatically where there are no liabilities outstanding for the return year, show an EDP of the date of the claim.
Repayment supplement (RPS)
|12 months after the fixed filing date of that years return|
|For example, claim made on 2001-2002 return, RPS payable from 31/01/2004||For set offs within the same SA record|
- The Relevant Due Date of the charge against which the credit is being set
For set offs to a different SA record or Head of Duty
- The date the set off is made
The projected date of issue of the repayment (usually 5 days from the date the repayment is calculated and entered on the record)
RPS calculated automatically or manually?
- RPS will need to be calculated manually
Note: For claims made in the first version of a return where FSC’s are created automatically, if applicable RPS will be calculated automatically.