Finance Act 2022

Overpaid tax

24 (1) Paragraphs 51 to 51G of Schedule 18 to FA 1998 (overpaid tax) apply, as those provisions apply in relation to a claim for repayment or discharge of corporation tax, for the purposes of making a claim for repayment or discharge of an amount of public interest business protection tax (an “overpayment claim”) where the person believes the tax is not due.

(2) Those provisions have effect for the purposes of an overpayment claim as if—

(a) in paragraph 51—

(i) in sub-paragraph (4), the reference to Part 7 of Schedule 18 to FA 1998 were to paragraph 25 of this Schedule, and

(ii) in sub-paragraph (6), for paragraphs (a) and (b) there were substituted—

“(a) by provision made by or under Schedule 10 to the Finance Act 2022, or

(b) by provision having effect for the purposes of public interest business protection tax as a result of provision made by or under that Schedule.”,

(b) in paragraph 51A(3), for “the Corporation Tax Acts” there were substituted “—

“(a) provision made by or under Schedule 10 to the Finance Act 2022, or

(b) provision having effect for the purposes of public interest business protection tax as a result of provision made by or under that Schedule”,

(c) in paragraph 51B—

(i) in sub-paragraph (1), for “more than 4 years after the end of the relevant accounting period” there were substituted “after the last day on which a self-assessment may be made and delivered in relation to the tax (see paragraphs 8(5) and 10(5) of Schedule 10 to the Finance Act 2022)”,

(ii) sub-paragraphs (2) and (3) were omitted, and

(iii) in sub-paragraph (4), for “company tax return” there were substituted “return under paragraph 8 or 9 of Schedule 10 to the Finance Act 2022”,

(d) in paragraph 51BA(1)—

(i) in paragraph (a), for “paragraph 36 or 37” there were substituted “paragraph 12 of Schedule 10 to the Finance Act 2022”, and

(ii) in paragraph (b) for sub-paragraph (iii) there were substituted—

“(iii) the last day on which a self-assessment may be made and delivered in relation to the tax (see paragraphs 8(5) and 10(5) of Schedule 10 to the Finance Act 2022) has passed, and”,

(e) paragraphs 51C and 51D were omitted,

(f) in paragraph 51E—

(i) references to a discovery assessment were to a discovery assessment under this Schedule (see paragraph 18),

(ii) references to a discovery determination were omitted, and

(iii) in sub-paragraph (2)(a), for “restrictions in paragraphs 42 to 45” there were substituted “restriction in paragraph 18(2) of Schedule 10 to the Finance Act 2022”,

(g) paragraph 51F were omitted, and

(h) in paragraph 51G—

(i) in sub-paragraph (1), for “company” there were substituted “person”, and

(ii) in sub-paragraph (3)(c), the reference to paragraph 51F(1)(b) were omitted.