- Latest available (Revised)
- Original (As enacted)
Finance Act 1998, Section 30 is up to date with all changes known to be in force on or before 17 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
(1)After section 59DA of the M1Taxes Management Act 1970 there shall be inserted—
(1)The Treasury may by regulations make provision, in relation to companies of such descriptions as may be prescribed, for or in connection with treating amounts of corporation tax for an accounting period as becoming due and payable on dates which fall on or before the date on which corporation tax for that period would become due and payable apart from this section.
(2)Without prejudice to the generality of subsection (1) above, regulations under this section may make provision—
(a)for or in connection with the determination of amounts of corporation tax which are treated as becoming due and payable under the regulations;
(b)for or in connection with the determination of the dates on which amounts of corporation tax are treated as becoming due and payable under the regulations;
(c)for or in connection with the making of payments to the Board in respect of amounts of corporation tax which are treated as becoming due and payable under the regulations;
(d)for or in connection with the determination of the amount of any such payments as are mentioned in paragraph (c) above;
(e)for or in connection with the determination of the dates on which any such payments as are mentioned in paragraph (c) above become due and payable;
(f)for or in connection with any assumptions which are to be made for any purposes of the regulations;
(g)for or in connection with the payment to the Board of interest on amounts of corporation tax which are treated as becoming due and payable under the regulations;
(h)for or in connection with the repayment of amounts paid under the regulations;
(i)for or in connection with the payment of interest by the Board on amounts paid or repaid under the regulations;
(j)with respect to the furnishing of information to the Board;
(k)with respect to the keeping, production or inspection of any books, documents or other records;
(l)for or in connection with the imposition of such requirements as the Treasury think necessary or expedient for any purposes of the regulations;
(m)for or in connection with appeals in relation to questions arising under the regulations.
(3)Regulations under this section may make provision—
(a)for amounts of corporation tax for an accounting period to be treated as becoming due and payable on dates which fall within the accounting period;
(b)for payments in respect of any such amounts of corporation tax for an accounting period as are mentioned in paragraph (a) above to become due and payable on dates which fall within the accounting period.
(4)Where interest is charged by virtue of regulations under this section on any amounts of corporation tax for an accounting period which are treated as becoming due and payable under the regulations, the company shall, in such circumstances as may be prescribed, be liable to a penalty not exceeding twice the amount of that interest.
(5)Regulations under this section—
(a)may make such modifications of any provisions of the Taxes Acts, or
(b)may apply such provisions of the Taxes Acts,
as the Treasury think necessary or expedient for or in connection with giving effect to the provisions of this section.
(6)Regulations under this section which apply any provisions of the Taxes Acts may apply those provisions either without modifications or with such modifications as the Treasury think necessary or expedient for or in connection with giving effect to the provisions of this section.
(7)Regulations under this section—
(a)may make different provision for different purposes, cases or circumstances;
(b)may make different provision in relation to companies or accounting periods of different descriptions;
(c)may make such supplementary, incidental, consequential or transitional provision as appears to the Treasury to be necessary or expedient.
(8)Subject to subsection (9) below, regulations under this section may make provision in relation to accounting periods beginning before (as well as accounting periods beginning on or after) the date on which the regulations are made.
(9)Regulations under this section may not make provision in relation to accounting periods ending before the day appointed under section 199 of the M2Finance Act 1994 for the purposes of Chapter III of Part IV of that Act (corporation tax self-assessment).
(10)In this section—
“modifications” includes amendments, additions and omissions;
“prescribed” means prescribed by regulations made under this section.
(11)Any reference in this section to corporation tax includes a reference—
(a)to any amount due from a company under section 419 of the principal Act (loans to participators etc) as if it were an amount of corporation tax chargeable on the company;
(b)to any sum chargeable on a company under section 747(4)(a) of the principal Act (controlled foreign companies) as if it were an amount of corporation tax.”
F1(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1S. 30(2)-(6) repealed (31.1.2013) by Statute Law (Repeals) Act 2013 (c. 2), s. 3(2), Sch. 1 Pt. 10 Group 1
Marginal Citations
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: