Income Tax Act 2007

945 Overview of Chapter

(1) This Chapter provides—

(a) for persons who have made payments within section 946 (“section 946 payments”) to make returns of the payments, and

(b) for the collection of income tax in respect of those payments.

(2) Sections 947 and 948 contain definitions and other provisions in relation to the following basic concepts used in the Chapter: “return period” and “accounting period”.

(3) Section 949 requires persons who have made section 946 payments to deliver returns of those payments made in return periods falling within accounting periods, and section 950 requires such persons to deliver returns of those payments made otherwise than in accounting periods.

(4) Section 951 explains—

(a) how much income tax is due from persons in respect of section 946 payments made by them, and

(b) when that income tax must be paid.

(5) Sections 952 to 955 allow persons who have made section 946 payments to make claims for income tax they have suffered to be set off against income tax payable by them in respect of the payments.

(6) Sections 956 to 960 explain what happens in cases where income tax payable in respect of section 946 payments is not paid when it is due, or where returns are incomplete or incorrect.

(7) Sections 961 and 962 contain supplementary provisions.

(8) For further provisions applying to returns and set-off claims under this Chapter, see TMA 1970 (in particular section 113(1) (returns) and section 42 and Schedule 1A (claims)).