I am struggling to get my head around this one.
So, for 2007/08, my tax return resulted "Tax refunded or set off "Box 1 If you have had any 2007?08 Income Tax refunded or set-off "This could be a repayment of CIS deductions (if you work in the construction industry), PAYE tax or tax paid on savings income. Or it could be an amount we have reallocated to go against an existing debt."
Er... why? What has finality of 2007/08 got to do with the computation of tax for the following year?
What are your thoughts?