Tax Statement error after interest double payment
Aug 27, 2017 8:30:54 GMT
david42 and james100 like this
Post by rogerbu on Aug 27, 2017 8:30:54 GMT
ablrate
On the 9th August, AR paid the interest on 1000073 twice. They then corrected the mistake by taking back the in error interest payment - so far so good.
However.
The 2 interest payments were of the type - Interest repayment,
whilst the recovery is of the Type - Correction. Instead of being a negative amount of Interest Repayment
The Tax Statement program only looks for 'Interest repayments' not 'correction'.
Therefore the Tax Statement shows our interest incorrectly. 2 times interest and no subsequent correction.
As far as I know, the August mistake was the first so there is probably no impact on reported tax years, but the error needs fixing before the end of this tax year.
On the 9th August, AR paid the interest on 1000073 twice. They then corrected the mistake by taking back the in error interest payment - so far so good.
However.
The 2 interest payments were of the type - Interest repayment,
whilst the recovery is of the Type - Correction. Instead of being a negative amount of Interest Repayment
The Tax Statement program only looks for 'Interest repayments' not 'correction'.
Therefore the Tax Statement shows our interest incorrectly. 2 times interest and no subsequent correction.
As far as I know, the August mistake was the first so there is probably no impact on reported tax years, but the error needs fixing before the end of this tax year.
