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HMRC internal manual

COTAX Manual

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HM Revenue & Customs
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Repayments / reallocations: non automatic reallocations: legislation: surrender non COTAX repayment to COTAX

The table below gives a brief explanation of what the legislation relevant to this subject contains.

Section Explanation
   
87A TMA 1970 Imposes late payment interest on late payments of tax made by companies.
7(2) ICTA 1988 Allows relief for Income Tax paid by a company against its CT liability.
11(3) ICTA 1988 Allows relief for Income Tax paid by non-resident companies against chargeable CT.
455 CTA 2010 Liability in respect of loans or advances made on or after 1 April 2010 to participators, or associates of participators.
419 ICTA 1988 Liability in respect of loans or advances made before 1 April 2010 to participators, or associates of participators.
458 CTA 2010 Relief given against a liability under S455 or S419 when a loan, or part of a loan to a participator is repaid to the company on or after 1 April 2010.
419(4) ICTA 1988) Relief given against a liability under S419 when a loan, or part of a loan to a participator is repaid to the company before 1 April 2010.
825 ICTA 1988 Allows the payment of repayment supplement.
826 ICTA 1988 Allows the payment of repayment interest.
963 CTA 2010 Surrender of company tax refund within the group.
964 (3) CTA 2010 When determining the amount of tax liability upon which to base a tax-related penalty a refund surrendered under S102 is treated as paid on the day on which the notice under S102 was given.
Para 5 Sched 18 FA 1998 Specifies the period for which a CTSA return is required.
Para 18(1) Sched 18 FA 1998 Enables the charging of tax-related penalties for CTSA return periods.
Para 18(3) Sched 18 FA 1998 Defines the tax unpaid figure to be used when calculating tax-related penalties for a CTSA return period.
Para 18(4) Sched 18 FA 1998 Excludes from the tax unpaid figure any deferred relief due under S458(5) CTA 2010 (formerly S419(4A) ICTA 1988), for a CTSA return period.