[F17(1)Condition A is that repayment interest has been paid to the person [F2in respect of an amount that is, or relates to, value added tax] for a prescribed accounting period.U.K.
(2)Condition B is that (whether or not a previous assessment has been made), an assessment or amendment of an assessment is made of the amount of value added tax payable by the person for that prescribed accounting period.
(3)Condition C is that as a result of the assessment or amendment of an assessment, it appears to HMRC that some or all of the repayment interest ought not to have been paid.]
Textual Amendments
F1Sch. 54A Pt. 2 inserted (1.1.2023) by Finance Act 2021 (c. 26), s. 120(2), Sch. 29 para. 4(3); S.I. 2022/1277, reg. 2(2)(a) (with reg. 3)
F2Words in Sch. 54A para. 7(1) substituted (with effect in accordance with s. 23(5) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 23(4)(b)