Part III Income Tax, Corporation Tax and Capital Gains Tax
Management and enforcement
91 Advance corporation tax: consequences of abolition.
1
Schedule 16 to the Taxes Act 1988 (collection of income tax on company payments) is amended as follows.
2
In paragraph 4 (payment of tax), omit—
a
in sub-paragraph (1), the words “Subject to sub-paragraph (3) below,”; and
b
sub-paragraph (3).
3
In paragraph 8 (items included in return or claim in error)—
a
for “should have been included in a return under Schedule 13” substitute “
should not have been so included
”
; and
b
for “been included in the right return” substitute “
not been included in the return or claim in question
”
.
4
In section 32(6) of the M1Finance Act 1998 (meaning of “unrelieved surplus advance corporation tax”), for “paragraph 11” substitute “
paragraph 12
”
.
5
Subsections (1) to (3) above have effect—
a
in relation to periods for which a return is required under paragraph 2 of Schedule 16 to the Taxes Act 1988 beginning on or after 6th April 1999; and
b
in relation to accounting periods beginning on or after that date.
6
The amendment made by subsection (4) above shall be deemed always to have had effect.