3(1)This paragraph applies to any amount which is due and payable as a result of—U.K.
(a)an amendment or correction to an assessment or self-assessment (“assessment A”),
(b)an assessment made by HMRC in place of or in addition to an assessment (“assessment A”) which was made by a taxpayer, or
(c)an assessment made by HMRC in place of an assessment (“assessment A”) which ought to have been made by a taxpayer.
(2)The late payment interest start date in respect of that amount is the date which would have been the late payment interest start date if—
(a)assessment A had been complete and accurate and had been made on the date (if any) by which it was required to be made, and
(b)accordingly, the amount had been due and payable as a result of assessment A.
(3)In the case of a person (“P”) who failed to give notice [F1in accordance with a requirement] under section 7 of TMA 1970 (notice of liability to tax) [F2that arose by virtue of subsection (1A) of that section], the reference in sub-paragraph (1)(c) to an assessment which ought to have been made by P is a reference to the assessment which P would have been required to make if an officer of Revenue and Customs had given notice under section 8 of that Act.
(4)In this paragraph “assessment” means any assessment or determination (however described) of any amount due and payable to HMRC.
Textual Amendments
F1Words in Sch. 53 para. 3(3) substituted (with effect in accordance with Sch. 51 para. 9 of the amending Act) by Finance Act 2013 (c. 29), Sch. 51 para. 7(2)(a)
F2Words in Sch. 53 para. 3(3) inserted (with effect in accordance with Sch. 51 para. 9 of the amending Act) by Finance Act 2013 (c. 29), Sch. 51 para. 7(2)(b)
Modifications etc. (not altering text)
C1Sch. 53 paras. 3, 4 applied (19.4.2013) by The Small Charitable Donations Regulations 2013 (S.I. 2013/938), regs. 1, 14