Simon Groom with your refresher guide to the rules
When companies make certain payments they are required to deduct income tax at source as set out in the Table.
For each CT61 quarter the tax withheld from payments made net (ie tax to be paid over to HMRC) is compared with the tax suffered on receipts received net (ie tax which can be reclaimed from HMRC).
If the tax withheld exceeds the tax suffered the net amount is the amount of tax the company must pay over to HMRC for that quarter.
If the tax suffered by the company exceeds the tax withheld a refund of tax is required from HMRC for that quarter.
Table: Income tax treatment
