PART 9Interest on payments due to or by Revenue Scotland
I1219Interest on repayment of tax overpaid etc.
1
A repayment by Revenue Scotland to which this section applies must be made with interest for the period between the relevant date and the date when the repayment is issued.
2
This section applies to—
a
any repayment of tax,
b
any repayment of a penalty, and
c
any repayment of interest (whether on tax or penalty).
3
In the cases mentioned in subsection (2) the “relevant date” is the date on which the payment of the tax, penalty or interest was made.
4
This section also applies to a repayment by Revenue Scotland of an amount lodged with it in respect of the tax payable in respect of a transaction.
5
In the case mentioned in subsection (4) the “relevant date” is the date on which the amount was lodged with Revenue Scotland.
6
Interest under this section is calculated at the rate specified in provision made under section 220.