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)
C3Sch. 16 applied (with modifications) (1.7.1997) by The Manufactured Interest (Tax) Regulations 1997 (S.I. 1997/992), reg. 3
Marginal Citations
M1Source—1972 Sch.20
5(1)Where in any accounting period a company receives any payment on which it bears income tax by deduction the company may claim to have the income tax thereon set against any income tax which it is liable to pay under this Schedule in respect of payments made by it in that period.
(2)Any such claim shall be included in a return made under paragraph 2 above for the accounting period in question and (where necessary) income tax paid by the company under this Schedule for that accounting period and before the claim is allowed shall be repaid accordingly.
Modifications etc. (not altering text)
C4Sch. 16 para. 5 restricted by Finance Act 1991 (c. 31, SIF 63:1), s. 52(1), Sch. 11 para. 4(1)(2)
C5Sch. 16 para. 5 restricted (with effect in accordance with s. 105(1) of the affecting Act) by Finance Act 1996 (c. 8), s. 91(1)(7) (with Schs. 10, 11, 15)
C6 See s.341—payments of interest between related companies.