Have just received a cheque from HMRC that has been banked for a tiny amount £12.20 that has been sent as a "Repayment" and is described as "interest payable to you" for our last years accounting period .
We did set up a Direct Debit for the CT bill for that accounting period which was due on 1.3.11 and to ensure it was there in time we sent it on 21.2.11, so I guess this is a nominal interest amount for that???
Problem is that having sent that years CT payment we have closed that accounting year and I just have no idea where to post the £12.20 to?
Should I put thsi in simply as interest received in this current year, or should I be trying to somehow show this in last year?
The amount is so small I almost wish we hadn't banked the darn cheque, but we have .
There is a box on the CT600 which can be ticked in respect of small repayments, 'do not repay £20 or less', and a further option where you can specify the amount below which you don't want the refund.
And before you ask, I'm not really sure what happens with the overpayment - would like to think that it sits on your account and reduces the next payment due!
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