SCHEDULES
I11I14I15I16I21I12I19I20I9I17I18I10I22I13I23I3I8I5I1I4I2I7I6SCHEDULE 53Late payment interest
Sch. 53 in force at 6.10.2011 for specified purposes by S.I. 2011/2391, art. 2(c)
Sch. 53 in force at 31.10.2011 for specified purposes by S.I. 2011/701, art. 3(1) (with art. 4)
Sch. 53 in force at 1.2.2013 for specified purposes by S.I. 2013/67, art. 2
Sch. 53 in force at 1.4.2013 for specified purposes by S.I. 2013/280, art. 2
Sch. 53 in force at 1.10.2013 for specified purposes by S.I. 2013/2472, art. 2
Sch. 53 in force at 6.5.2014 for specified purposes by S.I. 2014/992, art. 3(1)
Sch. 53 in force retrospectively at 6.5.2014 for further specified purposes by Finance Act 2019 (c. 1), s. 88(6)
Sch. 53 in force at 1.1.2015 for specified purposes by S.I. 2014/3269, art. 4(1) (with art. 4(2))
Sch. 53 in force at 1.1.2015 for specified purposes by S.I. 2014/3324, art. 3
Sch. 53 in force at 1.4.2015 for specified purposes by S.I. 2015/974, art. 2
Sch. 53 in force at 6.4.2018 for specified purposes by S.I. 2018/468, art. 2(a)
Sch. 53 in force at 6.4.2019 for specified purposes by 2019 c. 1, Sch. 2 para. 31
Sch. 53 in force at 1.6.2019 for specified purposes by S.I. 2019/918, art. 2
Sch. 53 in force at 1.6.2019 for specified purposes by S.I. 2019/921, art. 2
Sch. 53 in force at 6.9.2019 for specified purposes by S.I. 2019/1238, art. 2 (with art. 3)
Sch. 53 in force at 5.10.2020 for specified purposes by S.I. 2020/979, art. 3(1)
Sch. 53 in force at 6.4.2021 for specified purposes by S.I. 2021/445, reg. 2;
Sch. 53 in force at 6.4.2021 for specified purposes by 2020 c. 14, Sch. 1 para. 29 (with Sch. 1 paras. 30-34);
Sch. 53 in force retrospectively at 6.4.2021 for specified purposes by 2022 c. 3, Sch. 10 para. 29
Sch. 53 in force at 1.4.2022 for specified purposes by S.I. 2021/1409, reg. 2(a)
Sch. 53 in force at 1.1.2023 for specified purposes by S.I. 2022/1277, reg. 2(2)(b) (with reg. 3)
Sch. 53 in force at 1.5.2023 for specified purposes by S.I. 2023/385, art. 2
Sch. 53 in force at 30.9.2023 for specified purposes by S.I. 2023/997, art. 2
Sch. 53 in force at 4.3.2024 for specified purposes by S.I. 2024/133, art. 2
Part 1Special provision: amount carrying late payment interest
Payments on account and overpayment
2
1
This paragraph applies where as regards any person (“P”) and a tax year—
a
payments on account become payable by P, and
b
an overpayment becomes repayable to P.
2
Late payment interest is payable only on the amount by which each of the payments on account exceeds 50% of the overpayment.
3
In determining for the purposes of this paragraph what amount (if any) is repayable to P as an overpayment—
a
no account is to be taken of any amount which has been paid on account otherwise than under section 59A(2) of TMA 1970, and
b
no account is to be taken of any amount which is payable by way of capital gains tax.
4
In this paragraph—
“overpayment” means an amount repayable in accordance with section 59B(3), (4) or (5) of TMA 1970;
“payment on account” means an amount payable in accordance with section 59A(2) of that Act.
Sch. 53 in force at 31.8.2010 for specified purposes by S.I. 2010/1878, art. 2 (with art. 3)