On my tax form, it has a section about where to pay overpaid tax to. Asks for Bank details, one of which is Name of account holder. I am self employed with the business name of Access World. My cheque books have Access World written on them above the signature line. Also, I am one of the signatories on the account.
So...what am I supposed to put when it says "Name of account holder" on the tax form or even a direct debit?
Regards,
Jon
Well, the name of the account holder of the business account would be the business name, so if you want the refund to go into that account, then put that. "Name of account holder" really just means "account name". Are you sure you wouldn't rather have the refund go into your personal account? You do have one, don't you?
Remember, the business doesn't pay tax, you do. So if you paid any tax by business cheque, this would have to appear in your accounts as "drawings". If you pay a tax refund into the business account, this would then be "capital introduced".
Yes, good point! Thanks for that. An oversight on my part.
J>
In message , Ronald Raygun writes
In fact it would be 'Jon Bloggs trading as Access World'.
I hope he does!
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