C2C3C4Part IVStamp Duty Reserve Tax
Pt. 4: power to restrict conferred (27.7.1999) by Finance Act 1999 (c. 16), s. 119 (with s. 123(4))
Pt. 4: power to extend conferred (1.5.1995) by Finance Act 1995 (c. 4), s. 152(2)(b)(6)
The principal charge
C192Repayment or cancellation of tax
1
If, as regards an agreement to transfer securities to B or his nominee, tax is charged under section 87 above and it is proved to the Board's satisfaction that at a time after the expiry of the period of two months (beginning with the relevant day, as defined in section 87(3)) but before the expiry of the period of six years (so beginning) the conditions mentioned in section 87(4) and (5) have been fulfilled, the following provisions of this section shall apply.
2
If any of the tax charged has been paid, and a claim for repayment is made within the period of six years mentioned in subsection (1) above, the tax paid shall be repaid; and where the tax paid is not less than £25 it shall be repaid with interest on it at the F1rate applicable under section 178 of the Finance Act 1989 from the time it was paid.
3
To the extent that the tax charged has not been paid, the charge shall be cancelled by virtue of this subsection.
4
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F34A
Interest paid under subsection (2) above shall not constitute income for any tax purposes.
5
F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Pt. 4: construed as one with 1999 c. 16, Pt. VI (27.7.1999) by Finance Act 1999 (c. 16), s. 123(1)