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HMRC internal manual

COTAX Manual

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HM Revenue & Customs
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CT Pay and File: claims / reliefs: ACT: legislation: COTAX treatment of ACT carry-back

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

Section Explanation
   
87A(4) TMA 1970 Rules for determining the amount of late payment interest payable when liability to CT is met by surplus ACT carried back.
87A(7) TMA 1970 Rules for determining the amount of late payment interest payable when:
  • liability to CT is met by surplus ACT displaced by a loss carry-back
  • the ACT is itself carried back to an earlier AP.    
      239(3) ICTA 1988 Set off surplus ACT against CT payable in earlier APs.
      826(7) ICTA 1988 Rules for determining the amount of repayment interest payable when repayment of CT is created by the carry-back of surplus ACT.
      826(7AA) ICTA 1988 Rules for determining the amount of repayment interest payable when:
  • a repayment of CT is created by surplus ACT displaced by a loss carry-back
  • the ACT is itself carried back to an earlier AP.