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SCHEDULES

SCHEDULE 16U.K.M1 COLLECTION OF INCOME TAX ON COMPANY PAYMENTS WHICH ARE NOT DISTRIBUTIONS

Modifications etc. (not altering text)

C1 See—1970(M) s.55—recovery of tax not in dispute.1970(M) s.87—interest on overdue ACT.1988 s.339—donations to charity.1988 s.341—payments of interest etc between related companies.1988 s.479—interest paid on deposits with banks etc. (but ceases to have effect as regards interest paid or credited on or after 6April 1991).1988 s.480A—relevant deposits: deduction of tax from interest payments.S.I. 1988 No.482 (in Part III Vol.5) regn. 7—Building Society Regulations.

C2Sch. 16 modified by S.I. 1991/512, reg.3

Sch. 16 excluded (22.3.1992) by S.I. 1992/569, reg. 13(2)(d)

Sch. 16 applied (with modifications) (24.9.1992) by S.I. 1992/2074, reg. 14(5)

Sch. 16 applied (with modifications) (1.10.1993) by S.I. 1993/2004, reg. 13(3)

Marginal Citations

M1Source—1972 Sch.20

Duty to make returnsU.K.

2(1)A company shall for each of its accounting periods make, in accordance with this Schedule, returns to the collector of the relevant payments made by it in that period and of the income tax for which it is accountable in respect of those payments.

(2)A return shall be made for—

(a)each complete quarter falling within the accounting period, that is to say, each of the periods of three months ending with 31st March, 30th June, 30th September and 31st December which falls within that period;

(b)each part of the accounting period which is not a complete quarter and ends on the first (or only), or begins immediately after the last (or only), of those dates which falls within the accounting period;

(c)if none of those dates falls within the accounting period, the whole accounting period.

(3)A return for any period for which a return is required to be made under this paragraph shall be made within 14 days from the end of that period.

Modifications etc. (not altering text)