SCHEDULES
C1SCHEDULE 36Agreement between UK and Switzerland
Annotations:
Modifications etc. (not altering text)
PART 3The future: income tax and capital gains tax
Repayments
18
1
Sub-paragraph (2) applies if the amount of a credit allowable under paragraph 15(3) exceeds the amount of income tax or, as the case may be, capital gains tax due from P for the applicable year (before set-off).
2
The excess is to be set against any amount of the other tax (income tax or capital gains tax) due from P for that year.
3
Nothing in this Part entitles any person to a repayment or refund of tax, save for any repayment to which P may be entitled as a result of paragraph 15(3) if, in relation to a credit allowable under that paragraph, there is any remaining balance after applying—
a
sub-paragraph (2), and
b
section 138(4)(a) or 140(5)(a) of TIOPA 2010, if applicable to the cleared amount.
Sch. 36 applied (with modifications) (19.4.2013) by The Small Charitable Donations Regulations 2013 (S.I. 2013/938), regs. 1, 6