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Tax Collection and Management (Wales) Act 2016

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Whole provisions yet to be inserted into this Act (including any effects on those provisions):

CHAPTER 1E+WINTEREST ON AMOUNTS PAYABLE TO WRA

F1...E+W

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Amendments (Textual)

Prospective

[F2157Late payment interest on devolved taxesE+W

(1)This section applies to an amount of devolved tax—

(a)stated in a tax return as—

(i)the tax chargeable, or

(ii)if the tax return is a further return made by the buyer in a land transaction, the land transaction tax (or additional land transaction tax) payable;

(b)payable—

(i)as a result of an amendment to a tax return under section 41, 45 or 50;

(ii)as a result of a correction to a tax return under section 42;

(iii)in accordance with an assessment made in addition to a tax return under section 54 or 55, or

(c)payable in accordance with—

(i)a determination under section 52, or

(ii)an assessment under section 54 or 55,

made in place of a tax return which was required to be made.

(2)If the amount is not paid before the late payment interest start date, the amount carries interest (referred to in this Part as “"late payment interest””) at the late payment interest rate for the period—

(a)beginning with the late payment interest start date, and

(b)ending with the date of payment.

(3)The late payment interest start date is —

(a)in the case of an amount falling within subsection (1)(a) or (b), the date after the filing date for the tax return;

(b)in the case of an amount falling within subsection (1)(c) the date after the filing date for the tax return which was required to be made.

(4)But where section 160 applies the late payment interest start date is the date specified in that section.

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Amendments (Textual)

157ALate payment interest on penaltiesE+W

(1)This section applies to an amount of penalty required to be paid under Part 5 of this Act.

(2)If the amount is not paid on or before the date by which it is required to be paid, the amount carries interest (referred to in this Part as “"late payment interest””) at the late payment interest rate for the period—

(a)beginning with the following day, and

(b)ending with the date of payment.

(3)But where section 160 applies, the late payment interest start date is the date specified in that section.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

Prospective

158Late payment interest: supplementaryE+W

(1)This section applies for the purposes of sections 157 and 157A.

(2)Late payment interest is not payable on late payment interest.

(3)A late payment interest start date may be a non-business day within the meaning of section 92 of the Bills of Exchange Act 1882 (c. 61).

(4)The date of payment, in relation to an amount, includes the date on which the amount is set off against an amount payable by WRA.

(5)"Late payment interest rate”” has the meaning given by section 163(1).]

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

F3...E+W

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

Prospective

F3159Late payment interest start date: amendments to assessments etc.E+W

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

160Late payment interest start date: death of taxpayerE+W

(1)This section applies if—

(a)a person chargeable to an amount of devolved tax or penalty relating to devolved tax dies before the amount becomes payable, and

(b)the executor or administrator is unable to pay the amount before obtaining probate or letters of administration or another document having equivalent effect under the law of a country or territory other than England and Wales in relation to the deceased person's estate.

(2)The late payment interest start date for that amount is the later of the following—

(a)the date which would be the late payment interest start date apart from this section, and

(b)the day after the end of the period of 30 days beginning with the grant of probate or letters of administration or another document having equivalent effect under the law of a country or territory other than England and Wales in relation to the deceased person's estate.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I1S. 160 in force at 25.1.2018 by S.I. 2018/33, art. 2(g)

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