Accounting question re tax refund

[Maf. King]

On Monday 19 May 2008, 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.

Hi Bob,

IANAA, but I would record this as a negative expense!

HTH,
Maf.