Repayments / reallocations: non automatic reallocations: legislation: reallocations in a banking operations office
The table below gives a brief explanation of what the legislation relevant to this subject contains.
|87A TMA 1970||Imposes late payment interest on late payments of tax made by companies.|
|458 CTA 2010||Relief in terms of tax against a liability under S455 CTA 2010 or S419 ICTA 1988, when the loan or advance to the participator has been repaid (or repaid in part) on or after 01 April 2010.|
|419(4) ICTA 1988||Relief in terms of tax against a liability under S419 ICTA 1988, when the loan or advance to the participator has been repaid (or repaid in part) before 01 April 2010.|
|826 ICTA 1988||Allows the payment of repayment interest.|
|S963 CTA 2010 (formerly 102 FA 1989)||Surrender of company tax refund within the group.|
|S963 CTA 2010 extended by Regulation 9 of the CT (Instalment Payments Regulations 1998 (SI 1998 No. 3175) as amended by Reg 3 of the CT (Instalment Payments) (Amendment) Regulations 1999||Surrender of company tax refund within a group when one or the other company is a quarterly instalment payer.|