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HMRC internal manual

COTAX Manual

HM Revenue & Customs
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Repayments / reallocations: non automatic reallocations: legislation: reallocation out of COTAX - responsible CT office

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.
455 CTA 2010 (formerly 419 ICTA 1988) Authority to make an assessment upon a company when it has made a loan to a participator.
826 ICTA 1988 Allows the payment of repayment interest.
SCH 13 ICTA 1988 Machinery for collecting ACT on distributions made by companies.
SCH 16 ICTA 1988 Machinery for collecting Income Tax on certain interest payments made by companies.