PART 9Interest on payments due to or by Revenue Scotland

219Interest 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.