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This is direct tax guidance; for indirect tax guidance, refer to VAT Guidance.

For a company with investment business the majority of refunds are likely to arise in respect of output tax of a trade that it carries on alongside its investment business, for example the provision of management services. In those cases the advice at BIM40166 applies. »Ê¹ÚÌåÓýapp other main cause for refunds is overpaid input tax and the advice at BIM40168 similarly applies.

»Ê¹ÚÌåÓýappre are specific issues arising where a company with investment business has gone into liquidation. You should refer such cases and any other difficult points in respect of companies with investment business to Business Profits