Indirect Tax--How to adjust for errors in Output & Input Tax within current period in Tax Return?

I'm self-studying level 3 and I'm stuck on how to put over and under payments in the current period into the tax return.
Am I right in thinking that if there is:
  • An over payment of Output Tax you can make a subtraction in Box 1.
  • If you underpaid Output Tax you make an addition in box 1.
  • An over payment of Input Tax you can make a subtraction in box 4.
  • An under payment of input Tax you can make an addition in box 4.
I'm sitting a 2015 exam using the Osborne tutorial finance act 2014--it doesn't explain it well enough for me, and the exercise answers seem to contradict themselves? Although could well be me just not getting it.

Any pointers would be great!

Steve :)


  • SteveMerrifield
    SteveMerrifield Registered Posts: 4
    Thanks for confirming and the pointer. That was a big help.
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