COM122013 - Repayments/reallocations: non automatic reallocations: legislation: reallocation into COTAX - responsible CT office
The table below gives a brief explanation of what the legislation relevant to this subject contains.
Section | Explanation |
86 Taxes Management Act (TMA) 1970 | Enables the charging of interest on overdue income tax and capital gains tax. |
87 TMA 1970 | Enables the charging of interest on overdue ACT and IT CP. |
87A TMA 1970 | Imposes late payment interest on late payments of tax made by companies. |
88 TMA 1970 | Enables the charging of interest on tax recovered to make good loss due to company’s fault. |
455 Corporation Tax Act (CTA) 2010 (formerly 419 ICTA 1988) | Assessments made in respect of loans or advances to participators, or associates of participators. |
825 Income and Corporation Taxes Act (ICTA) 1988 | Allows the payment of repayment supplement. |
826 ICTA 1988 | Allows the payment of repayment interest. |
SCH 13 ICTA 1988 | Machinery for collecting ACT on distributions made by companies. |
SCH 16 ICTA 1988 | Machinery for collecting Income Tax on certain interest payments made by companies. |
178 Finance Act (FA) 1989 | Enables the setting of interest rates by the Treasury. |