Accounting question re tax refund

Andrew Greig algreig at bigpond.net.au
Mon May 19 10:19:08 EDT 2008


On Mon, 2008-05-19 at 13:26 +0100, Bob Williams wrote:
> I overpaid my income tax and HM Revenue and Customs has kindly sent me a 
> cheque. Would you advise me to record this as a negative value in 
> Expenses:Income Tax or income in Income:Other Income?
> 
> The money isn't actually income, I just accidentally "lent" it to the 
> taxman ;). Likewise, it's not tax either, as I should never have sent to 
> said taxman in the first place.
> 
> I realise that this is an arbitrary decision, but I'd be interested in 
> hearing what others have done in this situation.

Head of to Asot and try for some growth ;-)

Andrew
(sorry)



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