Finance Act 1999 (c. 16)

Part III Income Tax, Corporation Tax and Capital Gains Tax

Management and enforcement

90 Release or writing off of debt: interest on tax overpaid

(1) In section 826(4) of the Taxes Act 1988 (interest on tax overpaid)—

(a) for “the repayment of, or of the part in question of, the loan or advance mentioned in section 419(4) was made” substitute “the event giving rise to entitlement to relief under section 419(4) occurred”; and

(b) in paragraph (a)(i) of that subsection, after “repayment” insert “, or the release or writing off,”.

(2) This section has effect in relation to the release or writing off of the whole or part of a debt on or after 6th April 1999.