DMBM700030 - Set-offs - S130 FA2008: definitions of credit and debit

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S130 FA 2008 uses the following terms:

• credit - a credit is a sum that is payable, or may be repaid, by HMRC to the taxpayer
• debit - a debit is a sum that is payable by the taxpayer to HMRC under or by virtue of an enactment or under a contract settlement.

For the purposes of this guidance, taxpayer means employer, trader, taxpayer, claimant and so on as appropriate.