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IR4 Questions 42 Debits

Question 42A Income tax refunded

Print in Box 42A the company’s total income tax refunds received from 1 April 2018 to 31 March 2019 for 1989 and subsequent income years. Don’t include any interest on tax received or income tax refunded for any year before 1989.

Question 42B FDP refunds

The FDP rules have been fully repealed from 1 April 2017.

Don’t include an amount at 42B.

Question 42C Imputation credits attached to dividends paid

If the company paid dividends from 1 April 2018 to 31 March 2019 with imputation credits attached, print the total credits in Box 42C.

Question 42D Other debits

List any other debits in the ICA and print the total in Box 42D. Examples of other types of debits are:

  • any provisional tax allocated by the company to a company in the same wholly owned group that has underpaid its provisional tax

  • an adjustment for a change of shareholding of more than 34% during the period 1 April 2018 to 31 March 2019, regardless of your accounting year

  • an adjustment for a change in an imputation ratio

  • tax payable by a company on any part of a distribution not sourced from the subscribed capital of the company, where that company repurchases a share on-market.

Qualifying companies

The 66% continuity of shareholding requirement does not apply to qualifying companies. There is no need to make an adjustment where there has been a change of shareholding, except in the year the company ceases to be a qualifying company.

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