SCHEDULES

SCHEDULE 7CT payment plans for tax on certain transactions with EEA residents

Penalties

3

1

Schedule 56 to FA 2009 (penalty for failure to make payments on time) is amended as follows.

2

In the Table at the end of paragraph 1, after entry 6ZA insert—

6ZAA

Corporation tax

Amount payable under a CT payment plan entered into in accordance with Schedule 3ZC to TMA 1970

The later of—

  1. a

    the first day after the period of 12 months beginning immediately after the accounting period to which the CT payment plan relates, and

  2. b

    the date on which the amount is payable under the plan.

3

In paragraph 4 (amount of penalty in respect of certain late payments) in sub-paragraph (1) for “6ZA” substitute “ 6ZAA ”.