SCHEDULES

C3C7C8C2C5C6C10C1C4C9SCHEDULE 56Penalty for failure to make payments on time

Annotations:
Modifications etc. (not altering text)
C3

Sch. 56 applied (with modifications) by SR 2009/128, reg 63(3) (as substituted (with effect in accordance with reg. 2 of the amending Rule) by The Education (Student Loans) (Repayment) (Amendment) Regulations (Northern Ireland) 2010 (S.R. 2010/91), regs. 1, 7(1))

C7

Sch. 56 applied (with modifications) by SI 2009/470 reg. 68(3) (as substituted (with application in accordance with reg. 1(2) of the amending S.I.) by The Education (Student Loans) (Repayment) (Amendment) Regulations 2010 (S.I. 2010/661), regs. 1(1), 6)

C8

Sch. 56 applied (with modifications) by SI 2001/1004 reg. 67B (as inserted (with application in accordance with reg. 1(3) of the amending S.I.) by The Social Security (Contributions) (Amendment No. 4) Regulations 2010 (S.I. 2010/721), regs. 1(2), 3)

C2

Sch. 56 applied (with modifications) by SI 2001/1004 reg. 67A (as inserted (with application in accordance with reg. 1(3) of the amending S.I.) by The Social Security (Contributions) (Amendment No. 4) Regulations 2010 (S.I. 2010/721), regs. 1(2), 3)

C5

Sch. 56 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 39

C6

Sch. 56 applied by SR 2009/128, reg. 31 (as substituted (6.4.2011) by The Education (Student Loans) (Repayment) (Amendment) Regulations (Northern Ireland) 2011 (S.R. 2011/137), regs. 1(1), 6 (with reg. 12))

C10

Sch. 56 applied by S.I. 2009/470 reg. 36 (as substituted (6.4.2011) by The Education (Student Loans) (Repayment) (Amendment) Regulations 2011 (S.I. 2011/784), regs. 1(1), 7 (with reg. 12(1)))

C1

Sch. 56 applied (E.) (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 85(3)

C4

Sch. 56 applied (E.) (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 46

C9

Sch. 56: power to amend conferred (22.7.2020) by Finance Act 2020 (c. 14), Sch. 7 para. 5(1)(c)

F2F1Calculation of unpaid VAT: treatment of payments on account

Annotations:
Amendments (Textual)
F2

Sch. 56 para. 8K and cross-heading inserted (1.4.2022 for the purposes of plastic packaging tax) by Finance (No. 3) Act 2010 (c. 33), s. 27(2), Sch. 11 para. 8; 2021 c. 26, Sch. 15 para. 5(2)

F1

Sch. 56 para. 8K and cross-heading omitted (6.4.2024 for specified purposes) by virtue of Finance Act 2021 (c. 26), s. 118(2), Sch. 27 para. 40(7); S.I. 2024/440, reg. 2

F18K

1

Where P is required, by virtue of an order under section 28 of VATA 1994, to make any payment on account of VAT—

a

each payment is to be treated for the purposes of this Schedule as relating to the prescribed accounting period in respect of which it is to be paid (and not as relating to the interval between the dates on which payments on account are required to be made), and

b

the amount of tax unpaid in respect of the prescribed accounting period is the total of the amounts produced by paragraphs (a) and (b) of sub-paragraph (3).

2

In determining that total—

a

if there is more than one amount of POAD or POAT, those amounts are to be added together, and

b

if the amount produced by sub-paragraph (3)(b) is less than zero, that amount is to be disregarded.

3

The amounts are—

a

POAD−POAT, and

b

BPD−BPT.

4

In this paragraph—

  • POAD is the amount of any payment on account due in respect of the prescribed accounting period,

  • POAT is the amount of any payment on account paid on time (that is, on or before the date on which it was required to be made),

  • BPD (which is the balancing payment due in respect of the prescribed accounting period) is equal to PAPD−POAD, and

  • BPT (which is the amount paid on time in satisfaction of any liability to pay BPD) is equal to PAPP−POAP.

5

In sub-paragraph (4)—

  • PAPD is the amount of VAT due in respect of the prescribed accounting period,

  • PAPP is the total amount paid, on or before the last day on which P is required to make payments in respect of that period, in satisfaction of any liability to pay PAPD, and

  • POAP is the total amount paid, on or before that day (but whether or not paid on time), in satisfaction of any liability to pay POAD.