- Latest available (Revised)
- Point in Time (21/07/2009)
- Original (As enacted)
Version Superseded: 01/04/2010
Point in time view as at 21/07/2009.
There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 2009. Any changes that have already been made by the team appear in the content and are referenced with annotations.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
Schedule 58 contains provision about the recovery of debts by means of deductions from PAYE income in accordance with PAYE regulations.
(1)This section applies where a person (“P”) has entered into a managed payment plan in respect of—
(a)an amount on account of income tax which is to become payable in accordance with section 59A(2) of TMA 1970,
(b)an amount of income tax or capital gains tax which is to become payable in accordance with section 59B of that Act, or
(c)an amount of corporation tax which is to become payable in accordance with section 59D of that Act.
(2)P enters into a managed payment plan in respect of an amount if—
(a)P agrees to pay, and an officer of Revenue and Customs agrees to accept payment of, the amount by way of instalments,
(b)the instalments to be paid before the due date are balanced by the instalments to be paid after it (see subsections (8) to (10)), and
(c)the agreement meets such other requirements as may be specified in regulations made by the Commissioners.
(3)But this section does not apply, in the case of an amount of corporation tax, where an arrangement under section 36 of FA 1998 (payment of tax by members of a group of companies) has been made in relation to the amount.
(4)If P pays all of the instalments in accordance with the plan, P is to be treated as having paid, on the due date, the total of those instalments.
(5)If P—
(a)pays one or more instalments in accordance with the plan, but
(b)fails to pay one or more later instalments in accordance with it,
P is to be treated as having paid, on the due date, the total of the instalments paid before the failure (but this is subject to subsection (6)).
(6)Where—
(a)subsection (5) applies in a case where the first failure to pay an instalment occurs before the due date, and
(b)P would (in the absence of a managed payment plan) be entitled to be paid interest on any amount paid before that date,
then, despite that subsection, P is entitled to be paid that interest.
(7)Where—
(a)subsection (5) applies,
(b)P makes one or more payments after the due date (whether or not in accordance with the plan), and
(c)an officer of Revenue and Customs gives P a notice specifying any or all of those payments,
P is not liable to a penalty or surcharge for failing to pay the amount of the specified payments on or before the due date.
(8)The instalments to be paid before the due date are balanced by those to be paid after it if the time value of the instalments to be paid before that date is equal, or approximately equal, to the time value of the instalments to be paid after it.
(9)The time value of the instalments to be paid before the due date is the total of the time value of each of the instalments to be paid before that date (and the time value of the instalments to be paid after that date is to be construed accordingly).
(10)The time value of an instalment is—
where—
A is the amount of the instalment, and
T is the number of days before, or after, the due date that the instalment is to be paid.
(11)The Commissioners may by regulations make provision for the purpose of determining when an amount is approximately equal to another amount.
(12)Regulations under this section may make different provision for different cases.
(13)In this section—
“the Commissioners” means the Commissioners for Her Majesty's Revenue and Customs;
“the due date”, in relation to an amount mentioned in subsection (1), means the date on which it becomes payable.
(14)This section has effect where the due date falls after the day on which this Act is passed.
(1)Section 4 of F(No.2)A 1992 (cases in which customs and excise enforcement powers can be used in relation to movement of persons or things between member States) is amended as follows.
(2)In subsection (1), after “subsection” insert “ (1A) or ”.
(3)After that subsection insert—
“(1A)The first case in which a power to which this section applies may be exercised as mentioned in subsection (1) above is where it is necessary to exercise the power in order to ascertain whether the movement in question is or is not in fact between different member States.”
(4)In subsection (2), for the words from the beginning to “or that” substitute “ The second case in which a power to which this section applies may be exercised as mentioned in subsection (1) above is where ”.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: