DMBM450110 - Legislation and enabling regulations: Self Assessment
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The legislation that covers payments on account and balancing payments is in Sections 59A and 59B TMA 1970. The table below gives a brief explanation of what the legislation contains.
Legislation |
Explanation |
---|---|
Section 59A(1) |
Explains who is expected to make payments on account |
Section 59A(2) |
Explains how payments on account are calculated and when they are due |
Section 59A(3) and 59A(4) |
Provides for the taxpayer to make a claim to adjust payments on account |
Section 59A(5) |
Provides for adjustments to be made, for example by repayment, where payments on account are amended |
Section 59A(6) |
Details the penalties that can be applied where the taxpayer makes a fraudulent or negligent claim |
Section 59A(7) |
Provides for normal recovery action to be taken for payments on account |
Section 59A(8) |
Defines income deducted at source |
Section 59A(9) |
Allows a direction to be given that payments on accounts are not due for a particular year |
Section 59B(1) |
Explains how the balancing payment is calculated |
Section 59B(2) |
Explains that income deducted at source is taken into account when calculating the balancing payment |
Section 59B(3) |
Provides for the balancing payment due date to be deferred to 3 months and 7 days after the issue of the return in cases where HMRC delayed issuing the return |
Section 59B(4) |
Explains that, excepting the circumstances at 59B(3), the balancing payment due date is due on or before 31 January following the year of assessment |
Section 59B(5) |
Provides that the balancing payment can be amended and describes when the amended amounts are due or repayable |
Section 59B(6) |
Explains the due date where tax is due by virtue of an assessment |
SA penalty and appeal legislation
Penalty | Appeal legislation |
---|---|
Fixed Penalties |
Section 93(2) and Section 93(4) TMA1970 |
Daily penalties |
Section 93(3) TMA1970 |
Tax geared penalties |
Section 93(5) TMA1970 |
Determining the penalty |
Section 100 TMA1970 |
Appeals against penalties |
Section 100 TMA1970 Section 100(b) TMA1970 |
Late filing penalties |
FA2009 Sch 55 |
Late payment penalties |
FA2009 Sch 56 |