6(1)[F1Section 86 of the M1Taxes Management Act 1970 (interest on overdue tax)] shall apply in relation to any amount due in respect of Class 4 contributions [F2as it applies] in relation to income tax; and section 824 of the Act of 1988 (repayment supplements) shall, with the necessary modifications, apply in relation to Class 4 contributions as it applies in relation to income tax.
(2)The Inland Revenue shall have the same powers under section 1 of the Taxes Management Act 1970 (general functions of care and management) in relation to the remission of interest payable under section 86 F3. . . of that Act by virtue of this paragraph as they have in relation to the remission of interest payable under [F4that section on income tax].
Textual Amendments
F1Words in Sch. 2 para. 6(1) substituted (8.9.1998) by 1998 c. 14, s. 59(5)(a); S.I. 1998/2209, art. 2(a), Sch. Pt. I (subject to saving in art. 3)
F2Words in Sch. 2 para. 6(1) substituted (8.9.1998) by 1998 c. 14, s. 59(5)(b); S.I. 1998/2209, art. 2(a), Sch. Pt. I (subject to saving in art. 3)
F3Words in Sch. 2 para. 6(2) repealed (8.9.1998) by 1998 c. 14, ss. 59(6)(a), 86(2), Sch. 8; S.I. 1998/2209, art. 2(a), Sch. Pt. I (subject to saving in art. 3)
F4Words in Sch. 2 para. 6(2) substituted (8.9.1998) by 1998 c. 14, s. 59(6)(b); S.I. 1998/2209, art. 2(a), Sch. Pt. I (subject to saving in art. 3)
Marginal Citations