Tax Questions

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  1. #1

    Join Date
    Dec 2006
    Posts
    20

    Tax Questions

    Just recieved my tax assessment form 2008/9 (sharpish this year, coiffers must be running low), but i have a question ....

    My provisional tax i paid for the year 2008/9 is going to be much higher than the actual amount i am going to end up paying, as such what happens to the surplus amount i paid, is it offset against future tax bills or can i expect the surplus returned to me???

    Either way a win win but would just like to know what to expect ....

    thanks for looking

    regards

    john


  2. #2

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,205

    I'm not sure but I believe that first it will be set off against the provisional tax for 2009/10, and if there is still money over (in other words, simplistically, your income has dropped by more than 50%) then the excess will be repaid with 12 working days.
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