Search Legislation

Taxes Management Act 1970

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As enacted)
 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Paragraph 8

 Help about opening options

Alternative versions:

Changes to legislation:

Taxes Management Act 1970, Paragraph 8 is up to date with all changes known to be in force on or before 03 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. Help about Changes to Legislation

[F18(1)This paragraph applies where a CT payment plan is entered into by a company in accordance with this Schedule.U.K.

(2)As regards when the deferred tax is payable—

(a)the CT payment plan does not prevent the deferred tax becoming due and payable under section 59D or 59E, but

(b)the Commissioners for Her Majesty's Revenue and Customs—

(i)may not seek payment of the deferred tax otherwise than in accordance with paragraphs 9 to 12;

(ii)may make repayments in respect of any amount of the deferred tax paid, or any amount paid on account of the deferred tax, before the CT payment plan is entered into.

(3)As regards interest—

(a)the deferred tax carries interest in accordance with Part 9 as if the CT payment plan had not been entered into, and

(b)each time a payment is made in accordance with paragraphs 9 to 12, it is to be paid together with any interest payable on it.

(4)As regards penalties, the company will be liable to penalties for late payment of the deferred tax only if it fails to make payments in accordance with paragraphs 9 to 12 (see item 6ZAA of the Table at the end of paragraph 1 of Schedule 56 to the Finance Act 2009).

(5)Any of the deferred tax which is for the time being unpaid may be paid at any time before it becomes payable under paragraphs 9 to 12 together with interest payable on it to the date of payment.]

Textual Amendments

F1Sch. 3ZC inserted (retrospective and with effect in accordance with Sch. 7 para. 4(1)(a) of the amending Act) by Finance Act 2020 (c. 14), Sch. 7 para. 2

Back to top

Options/Help