|
| |
| |
(2) | Schedule 48 contains further amendments of that Schedule. |
| |
(3) | The amendments made by this section and Schedule 48 come into force on such |
| |
day as the Treasury may by order appoint. |
| |
(4) | An order under subsection (3) may— |
| |
(a) | appoint different days for different purposes, and |
| 5 |
(b) | contain transitional provision and savings. |
| |
(5) | The Treasury may by order make any incidental, supplemental, consequential, |
| |
transitional or transitory provision or saving which appears appropriate in |
| |
consequence of, or otherwise in connection with, this section and Schedule 48. |
| |
(6) | An order under subsection (5) may— |
| 10 |
(a) | make different provision for different purposes, and |
| |
(b) | make provision amending, repealing or revoking an enactment or |
| |
instrument (whenever passed or made). |
| |
(7) | An order under this section is to be made by statutory instrument. |
| |
(8) | A statutory instrument containing an order under subsection (5) is subject to |
| 15 |
annulment in pursuance of a resolution of the House of Commons. |
| |
96 | Powers to obtain contact details for debtors |
| |
Schedule 49 contains provision about the powers of officers of Revenue and |
| |
Customs to obtain contact details of debtors. |
| |
| 20 |
(1) | Schedule 50 contains provision about obligations to keep records. |
| |
(2) | The amendments made by that Schedule come into force on such day as the |
| |
Treasury may by order made by statutory instrument appoint. |
| |
| |
98 | Time limits for assessments, claims etc |
| 25 |
(1) | Schedule 51 contains provision about time limits for assessments, claims etc. |
| |
(2) | The amendments made by that Schedule come into force on such day as the |
| |
Treasury may by order made by statutory instrument appoint. |
| |
(3) | An order under subsection (2)— |
| |
(a) | may make different provision for different purposes, and |
| 30 |
(b) | may include transitional provision and savings. |
| |
99 | Recovery of overpaid tax etc |
| |
(1) | Schedule 52 contains provision for and in connection with the recovery of |
| |
overpaid income tax, capital gains tax and corporation tax. |
| |
(2) | The amendments made by that Schedule have effect in relation to claims made |
| 35 |
on or after 1 April 2010. |
| |
| |
| |
|
| |
| |
(3) | The Treasury may by order make any incidental, supplemental, consequential, |
| |
transitional or transitory provision or saving which appears appropriate in |
| |
consequence of, or otherwise in connection with, that Schedule. |
| |
(4) | An order under this section may— |
| |
(a) | make different provision for different purposes, and |
| 5 |
(b) | make provision modifying an enactment or instrument (whenever |
| |
| |
(5) | “Modifying” includes amending, repealing or revoking. |
| |
(6) | An order under this section is to be made by statutory instrument. |
| |
(7) | A statutory instrument containing an order under this section is subject to |
| 10 |
annulment in pursuance of a resolution of the House of Commons. |
| |
| |
100 | Late payment interest on sums due to HMRC |
| |
(1) | This section applies to any amount that is payable by a person to HMRC under |
| |
or by virtue of an enactment. |
| 15 |
(2) | But this section does not apply to— |
| |
(a) | an amount of corporation tax, |
| |
(b) | an amount of petroleum revenue tax, or |
| |
(c) | an amount of any description specified in an order made by the |
| |
| 20 |
(3) | An amount to which this section applies carries interest at the late payment |
| |
interest rate from the late payment interest start date until the date of payment. |
| |
(4) | The late payment interest start date in respect of any amount is the date on |
| |
which that amount becomes due and payable. |
| |
| 25 |
(a) | Part 1 makes special provision as to the amount on which late payment |
| |
| |
(b) | Part 2 makes special provision as to the late payment interest start date, |
| |
(c) | Part 3 makes special provision as to the date to which late payment |
| |
| 30 |
(d) | Part 4 makes provision about the effect that the giving of a relief has on |
| |
| |
(6) | Subsection (3) applies even if the late payment interest start date is a non- |
| |
business day within the meaning of section 92 of the Bills of Exchange Act 1882. |
| |
(7) | Late payment interest is to be paid without any deduction of income tax. |
| 35 |
(8) | Late payment interest is not payable on late payment interest. |
| |
(9) | For the purposes of this section any reference to the payment of an amount to |
| |
HMRC includes a reference to its being set off against an amount payable by |
| |
HMRC (and, accordingly, the reference to the date on which an amount is paid |
| |
includes a reference to the date from which the set-off takes effect). |
| 40 |
| |
| |
|
| |
| |
101 | Repayment interest on sums to be paid by HMRC |
| |
(1) | This section applies to— |
| |
(a) | any amount that is payable by HMRC to any person under or by virtue |
| |
| |
(b) | a relevant amount paid by a person to HMRC that is repaid by HMRC |
| 5 |
to that person or to another person. |
| |
(2) | But this section does not apply to— |
| |
(a) | an amount constituting a repayment of corporation tax, |
| |
(b) | an amount constituting a repayment of petroleum revenue tax, or |
| |
(c) | an amount of any description specified in an order made by the |
| 10 |
| |
(3) | An amount to which this section applies carries interest at the repayment |
| |
interest rate from the repayment interest start date until the date on which the |
| |
payment or repayment is made. |
| |
| 15 |
(a) | Parts 1 and 2 define the repayment interest start date, and |
| |
(b) | Part 3 makes supplementary provision. |
| |
(5) | Subsection (3) applies even if the repayment interest start date is a non- |
| |
business day within the meaning of section 92 of the Bills of Exchange Act 1882. |
| |
(6) | Repayment interest is not payable on an amount payable in consequence of an |
| 20 |
order or judgment of a court having power to allow interest on the amount. |
| |
(7) | Repayment interest is not payable on repayment interest. |
| |
(8) | For the purposes of this section— |
| |
(a) | “relevant amount” means any sum that was paid in connection with |
| |
any liability (including any purported or anticipated liability) to make |
| 25 |
a payment to HMRC under or by virtue of an enactment, and |
| |
(b) | any reference to the payment or repayment of an amount by HMRC |
| |
includes a reference to its being set off against an amount owed to |
| |
HMRC (and, accordingly, the reference to the date on which an amount |
| |
is paid or repaid by HMRC includes a reference to the date from which |
| 30 |
the set-off takes effect). |
| |
| |
(1) | The late payment interest rate is the rate provided for in regulations made by |
| |
the Treasury under this subsection. |
| |
(2) | The repayment interest rate is the rate provided for in regulations made by the |
| 35 |
Treasury under this subsection. |
| |
(3) | Regulations under subsection (1) or (2)— |
| |
(a) | may make different provision for different purposes, |
| |
(b) | may either themselves specify a rate of interest or make provision for |
| |
such a rate to be determined (and to change from time to time) by |
| 40 |
reference to such rate, or the average of such rates, as may be referred |
| |
| |
| |
| |
|
| |
| |
(c) | may provide for rates to be reduced below, or increased above, what |
| |
they otherwise would be by specified amounts or by reference to |
| |
| |
(d) | may provide for rates arrived at by reference to averages to be rounded |
| |
| 5 |
(e) | may provide for circumstances in which alteration of a rate of interest |
| |
is or is not to be take place, and |
| |
(f) | may provide that alterations of rates are to have effect for periods |
| |
beginning on or after a day determined in accordance with the |
| |
regulations in relation to interest running from before that day as well |
| 10 |
as from or from after that day. |
| |
| |
| |
“HMRC” means Her Majesty’s Revenue and Customs; |
| |
“late payment interest” means interest payable under section 100; |
| 15 |
“repayment interest” means interest payable under section 101; |
| |
“revenue” has the meaning given in section 5(4) of CRCA 2005. |
| |
(2) | A reference to the date on which an amount becomes due and payable is a |
| |
reference to the date (however described) on or before which the amount must |
| |
| 20 |
(3) | Sections 100 to 102 come into force on such day as the Treasury may by order |
| |
| |
(4) | An order under subsection (3)— |
| |
(a) | may commence a provision generally or only for specified purposes, |
| |
| 25 |
(b) | may appoint different days for different provisions or for different |
| |
| |
(5) | The Treasury may by order make any incidental, supplemental, consequential, |
| |
transitional, transitory or saving provision which may appear appropriate in |
| |
consequence of, or otherwise in connection with, those sections. |
| 30 |
(6) | An order under subsection (5) may include provision amending, repealing or |
| |
revoking any provision of any Act or subordinate legislation whenever passed |
| |
or made (including this Act and any Act amended by it). |
| |
(7) | An order under subsection (5) may make different provision for different |
| |
| 35 |
(8) | The following are to be made by statutory instrument— |
| |
(a) | orders under section 100(2) or 101(2), |
| |
(b) | regulations under section 102(1) or (2), and |
| |
(c) | orders under subsection (3) or (5). |
| |
(9) | A statutory instrument containing— |
| 40 |
(a) | an order under section 100(2) or 101(2), |
| |
(b) | regulations under section 102(1) or (2), |
| |
(c) | an order under subsection (5) which includes provision amending or |
| |
repealing any provision of an Act, |
| |
| is subject to annulment in pursuance of a resolution of the House of Commons. |
| 45 |
| |
| |
|
