Finance Act 1972

6 (1) Any income tax chargeable under paragraph 5 above in respect of a sum apportioned to a participator shall be assessed on the participator and, subject to the provisions of this paragraph, all the provisions of the Income Tax Acts relating to assessment and the collection and recovery of tax shall with any necessary modifications apply to tax chargeable under that paragraph.

(2) If the whole or any part of the tax assessed on the participator is not paid within thirty days from the date on which the assessment became final and conclusive or by 6th July in the year next following the year of assessment, whichever is the later, a notice of liability to tax under this paragraph shall be served on the company and the tax or the part thereof remaining unpaid, as the case may be, shall thereupon be payable by the company.

(3) Where a notice of liability is served under sub-paragraph (2) above, any interest due on the tax assessed on the participator and not paid by him, and any interest accruing due on that tax after the date of service, shall be payable by the company.

(4) Where a notice of liability is served on the company and the relevant tax and any interest payable by the company under sub-paragraph (3) above is not paid by the company before the expiry of three months from the date of service, that tax and interest may, without prejudice to the right of recovery from the company, be recovered from the participator.

(5) Where, in consequence of a sub-apportionment, the foregoing provisions of this paragraph apply in relation to a participator in a company other than the company in relation to which the original apportionment was made, references in those provisions to the company shall be taken as references to the company in relation to which the original apportionment was made.