PART 9Interest on payments due to or by Revenue Scotland
217Interest on unpaid tax
1
Interest is payable on the amount of any unpaid tax from the relevant date until the tax is paid.
2
For the purposes of this section the “relevant date” is the date for payment of the tax which is specified by the Scottish Ministers in regulations.
3
If an amount is lodged with Revenue Scotland in respect of the tax payable on a transaction, the amount on which interest is payable is reduced by that amount.
4
Interest under this section is calculated at the rate specified in provision made under section 220.
218Interest on penalties
1
Interest is payable on the amount of any unpaid penalty from the date on which the penalty is due to be paid until it is paid.
2
Interest under this section is calculated at the rate specified in provision made under section 220.
219Interest on repayment of tax overpaid etc.
1
A repayment by Revenue Scotland to which this section applies must be made with interest for the period between the relevant date and the date when the repayment is issued.
2
This section applies to—
a
any repayment of tax,
b
any repayment of a penalty, and
c
any repayment of interest (whether on tax or penalty).
3
In the cases mentioned in subsection (2) the “relevant date” is the date on which the payment of the tax, penalty or interest was made.
4
This section also applies to a repayment by Revenue Scotland of an amount lodged with it in respect of the tax payable in respect of a transaction.
5
In the case mentioned in subsection (4) the “relevant date” is the date on which the amount was lodged with Revenue Scotland.
6
Interest under this section is calculated at the rate specified in provision made under section 220.
220Rates of interest
1
The rate of interest that applies for the purposes of sections 217, 218 and 219 is the rate specified by the Scottish Ministers in regulations.
2
Regulations under subsection (1) may—
a
provide for different rates for different devolved taxes or different penalties,
b
provide for circumstances in which alteration of a rate of interest is or is not to take place,
c
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 as from or from after that day.