SCHEDULES
F1Schedule 54AFurther provision as to late payment interest and repayment interest
Annotations:
Amendments (Textual)
F2PART 1CORPORATION TAX
Annotations:
Amendments (Textual)
F2
Sch. 54A Pt. 1 heading inserted (1.1.2023) by Finance Act 2021 (c. 26), s. 120(2), Sch. 29 para. 4(2); S.I. 2022/1277, reg. 2(2)(a) (with reg. 3)
Common period rule for corporation tax
4
1
This paragraph applies for the purposes of paragraph 3.
2
Condition A is that the overdue payment and the repayment are in respect of different accounting periods.
3
Condition B is that the overdue payment would (apart from paragraph 3) carry—
a
late payment interest, or
b
interest under regulations made by virtue of section 59E(2)(g) of TMA 1970.
4
Condition C is that the repayment would (apart from paragraph 3) carry—
a
repayment interest, or
b
interest under regulations made by virtue of section 59E(2)(i) of TMA 1970.
Sch. 54A inserted (1.1.2023 for specified purposes) by Finance (No. 3) Act 2010 (c. 33), s. 25(2), Sch. 9 para. 12 (as amended by: 2014 c. 26, Sch. 4 paras. 14, 16, 17; S.I. 2014/2228, art. 2; 2016 c. 24, Sch. 8 para. 12, 17(1)(a); and 2017 c. 32, Sch. 6 paras. 15, 20, 21(1)(b)); S.I. 2022/1277, reg. 2(2)(d) (with reg. 3)