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Changes over time for: Section 86


Timeline of Changes
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Version Superseded: 17/07/2013
Status:
Point in time view as at 01/01/2010. This version of this provision has been superseded.

Status
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Changes to legislation:
Finance Act 2003, Section 86 is up to date with all changes known to be in force on or before 07 March 2025. 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.

Changes to Legislation
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86Payment of taxU.K.
(1)Tax payable in respect of a land transaction must be paid [not later than the filing date for the land transaction return relating to the transaction.]
(2)Tax payable as a result of the withdrawal of relief under—
(a)Part 1 of Schedule 7 (group relief),
(b)Part 2 of that Schedule (reconstruction or acquisition relief), or
(c)Schedule 8 (charities relief),
must be paid [not later than the filing date for the return relating to the withdrawal] (see section 81).
(3)Tax payable as a result of the amendment of a return must be paid forthwith or, if the amendment is made before the filing date for the return, not later than that date.
(4)Tax payable in accordance with a determination or assessment by the Inland Revenue must be paid within 30 days after the determination or assessment is issued.
(5)The above provisions are subject to—
(a)section 90 (application to defer payment of tax in case of contingent or uncertain consideration), and
(b)paragraphs 39 and 40 of Schedule 10 (postponement of payment pending determination of appeal).
[(5A)The above provisions are also subject to paragraph 7 of Schedule 61 to the Finance Act 2009 (payment of tax where land ceases to qualify for relief in respect of alternative finance investment bonds).]
(6)This section does not affect the date from which interest is payable (as to which, see section 87).
Textual Amendments
Commencement Information
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