From: "Jon" 
Newsgroups: uk.finance
Subject: Re: Name of account holder????
Date: Mon, 26 Jan 2004 12:50:11 -0000

Yes, good point! Thanks for that. An oversight on my part.

Jon

"Ronald Raygun"  wrote in message
news:gz7Rb.164$JP2.2283731@news-text.cableinet.net...
> Jon wrote:
>
> > On my tax form, it has a section about where to pay overpaid tax to.
Asks
> > for Bank details, one of which is Name of account holder. I am self
> > employed with the business name of Access World. My cheque books have
> > Access World written on them above the signature line. Also, I am one of
> > the signatories on the account.
> >
> > So...what am I supposed to put when it says "Name of account holder" on
> > the tax form or even a direct debit?
>
> Well, the name of the account holder of the business account would
> be the business name, so if you want the refund to go into that
> account, then put that.  "Name of account holder" really just means
> "account name".  Are you sure you wouldn't rather have the refund go
> into your personal account?  You do have one, don't you?
>
> Remember, the business doesn't pay tax, you do.  So if you paid
> any tax by business cheque, this would have to appear in your
> accounts as "drawings".  If you pay a tax refund into the business
> account, this would then be "capital introduced".
>