How to reclaim a tax charge of section 455/S455?
Please see below the step by step guidance for S455 tax refund, if the outstanding DCA balance or overdrawn loan has been paid back by the director within 9 months & 1 day after the year-end date.
To reclaim S455 tax we have to go through the following steps.
- The start and end dates of the accounting period when the loan was made
- The date the loan was made
- The start and end dates of the accounting period when the loan or part loan was repaid, released or written off
- The date the loan or part loan was repaid, released or written off
- The value of the loan or the part loan repaid, released or written off
- The date when relief is due
- Your bank or building society details if you want us to repay you by Bacs
After filling the L2P Form you will have to take a print of it and then sign and post it off to HMRC at the following address.
Corporation Tax Services
HM Revenue and Customs
Once it’s accepted by HMRC, the S455 reclaim will be refunded if it had previously been paid otherwise it will be reversed from the HMRC portal.