Version Superseded: 12/02/2019
Point in time view as at 01/04/2010.
Finance Act 2008, Cross Heading: ICTA is up to date with all changes known to be in force on or before 01 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
7(1)Section 826 of ICTA (interest on tax overpaid) is amended as follows.U.K.
(2)In subsection (1), after paragraph (f) insert “, or
(g)a payment of first-year tax credit falls to be made to a company under Schedule A1 to the Capital Allowances Act.”
(3)After subsection (3C) insert—
“(3D)In relation to a payment of first-year tax credit falling within subsection (1)(g) 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 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 tax credit is delivered to the Commissioners for Her Majesty's Revenue and Customs.
For this purpose “the filing date”, in relation to a company tax return, has the same meaning as in Schedule 18 to the Finance Act 1998.”
(4)In subsection (8A)(b)(ii), after “film tax credit” insert “ or first-year tax credit under Schedule A1 to the Capital Allowances Act ”.
(5)In subsection (8BA), after “film tax credit” (in both places) insert “ or first-year tax credit under Schedule A1 to the Capital Allowances Act ”.
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