- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (31/12/2006)
- Gwreiddiol (Fel y'i Deddfwyd)
Point in time view as at 31/12/2006.
There are currently no known outstanding effects for the Finance Act 2000, SCHEDULE 21.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Section 69(2).
1(1)Section 826 of the Taxes Act 1988 (interest on tax overpaid) is amended as follows.U.K.
(2)In subsection (1) (payments which carry interest) after paragraph (c) insert “; or
(d)a payment of R&D tax credit falls to be made to a company under Schedule 20 to the Finance Act 2000 in respect of an accounting period,”.
(3)After subsection (3) (material date for repayments of income tax etc.) insert—
“(3A)In relation to a payment of R&D tax credit falling within subsection (1)(d) above the material date is whichever is the later of—
(a)the filing date for the company’s company tax return for the accounting period for which the R&D tax credit is claimed, and
(b)the date on which the company tax return or amended company tax return containing the claim for payment of the R&D tax credit is delivered to the Inland Revenue.
For this purpose “the filing date”, in relation to a company tax return, has the same meaning as in Schedule 18 to the M1Finance Act 1998.”.
(4)In subsection (8A) (recovery of overpaid interest)—
(a)in paragraph (a), after “subsection (1)(a)" insert “ or (d) ”,
(b)for paragraph (b) substitute—
“(b)there is—
(i)a change in the company’s assessed liability to corporation tax, or
(ii)a change in the amount of the R&D tax credit payable to the company (which does not result in a change falling within sub-paragraph (i)),
other than a change which in whole or in part corrects an error made by the Board or an officer of the Board, and”.
(5)After subsection (8B) insert—
“(8BA)For the purposes of subsection (8A)(b) above, the cases where there is a change in the amount of the R&D tax credit payable to the company are those cases where an assessment, or an amendment to an assessment, is made to recover an amount of R&D tax credit paid to the company for the accounting period in question.”.
Marginal Citations
2U.K.In Schedule 18 to the M2Finance Act 1998 (company tax returns, assessments and related matters), in paragraph 10 (other claims and elections to be included in return), for sub-paragraph (2) substitute—
“(2)A claim to which Part VIII, IX or IXA of this Schedule applies (claims for group relief, capital allowances or R&D tax credit) can only be made by being included in a company tax return (see paragraphs 67, 79 and 83B).”.
Marginal Citations
3U.K.In paragraph 52 of that Schedule (recovery of excessive repayments, etc.)—
(a)in sub-paragraph (2) (excessive repayments to which paragraphs 41 to 48 apply), before “or" at the end of paragraph (b) insert—
“(ba)R&D tax credit under Schedule 20 to the Finance Act 2000,”;
and
(b)in sub-paragraph (5) (connection of assessment for excessive payment to an accounting period), before “or" at the end of paragraph (a) insert—
“(ab)an amount of R&D tax credit paid to a company for an accounting period,”;
and
(c)at the end of that sub-paragraph after “(a)" insert “ , (ab) ”.
4U.K.After Part IX of that Schedule (claims for capital allowances) insert—
83AThis Part of this Schedule applies to claims for R&D tax credits under Schedule 20 to the Finance Act 2000.
83B(1)A claim for an R&D tax credit must be made by being included in the claimant company’s company tax return for the accounting period for which the claim is made.
(2)It may be included in the return originally made or by amendment.
83CA claim for an R&D tax credit must specify the amount of the relief claimed, which must be an amount quantified at the time the claim is made.
83DA claim for an R&D tax credit may be amended or withdrawn by the claimant company only by amending its company tax return.
83E(1)A claim for an R&D tax credit may be made, amended or withdrawn at any time up to the first anniversary of the filing date for the company tax return of the claimant company for the accounting period for which the claim is made.
(2)The claim may be made, amended or withdrawn at a later date if the Inland Revenue allow it.
83F(1)The company is liable to a penalty where it—
(a)fraudulently or negligently makes a claim for an R&D tax credit which is incorrect, or
(b)discovers that a claim for an R&D tax credit made by it (neither fraudulently or negligently) is incorrect and does not remedy the error without unreasonable delay.
(2)The penalty is an amount not exceeding the excess R&D tax credit claimed, that is, the difference between—
(a)the amount of the R&D tax credit to which the company is entitled for the accounting period to which the claim relates, and
(b)the amount of the R&D tax credit claimed by the company for that period.”.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
Y Ddeddf Gyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Rhestrau you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Pwynt Penodol mewn Amser: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Rhychwant ddaearyddol: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Dangos Llinell Amser Newidiadau: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys