Part III Income Tax, Corporation Tax and Capital Gains Tax

Chapter I General

62F1 Interest on unpaid tax.

1

In the provisions mentioned in subsection (2) below (remission of interest on unpaid tax where the amount of interest does not exceed £10) for “£10” there shall be substituted “ £30 ”.

2

The provisions referred to above are—

a

section 86(6) of the Taxes Management Act 1970 (income tax, corporation tax and capital gains tax);

b

section 87(4) of that Act (advance corporation tax and income tax on company payments); and

c

section 87(3) of that Act as originally enacted (income tax on company distributions).

3

This section has effect in relation to interest on tax charged by assessments notice of which is issued after the passing of this Act.