Finance Act 1980

61 Dates for payment of tax

(1) In section 4(3) of the Taxes Act (income tax charged at rates other than the basic rate to be payable on or before 6th July following the end of the year for which it is assessed) for the words “6th July” there shall be substituted the words “1st December ”.

(2) In section 7 of the [1979 c. 14.] Capital Gains Tax Act 1979 (capital gains tax payable at or before expiration of the three months following the year in which the gains accrued) for the words “at or before the expiration of the three months following that year ” there shall be substituted the words “on or before 1st December following the end of that year ”.

(3) In paragraph 3 in the second column of the Table in section 86(4) of the [1970 c. 9.] Taxes Management Act 1970 (reckonable date for interest on unpaid tax) for the words “The 1st January following the end of the year of assessment” there shall be substituted the words “The 1st June following the 1st December mentioned in section 4(3) of the principal Act ” and in paragraph 4 in the second column of that Table for the words “The 1st January following the end of the year of assessment” there shall be substituted the words " The 1st June following the 1st December mentioned in section 7 of the Capital Gains Tax Act 1979. "

(4) In section 88 (5)(c) and (d) of the [1970 c. 9.] Taxes Management Act 1970 (interest on tax recovered to make good loss due to taxpayer's fault) and paragraph 6(2) of Schedule 16 to the [1972 c. 41.] Finance Act 1972 (liability for tax on apportioned income) for the words “6th July ” there shall be substituted the words “1st December ”.

(5) This section has effect in relation to tax for the year 1980-81 and subsequent years of assessment.