COM153021 - CT Pay and File: claims / reliefs: ACT: legislation: ACT carry-back and late payment interest
The table below gives a brief explanation of what the legislation relevant to this subject contains.
Section | Explanation |
Section 87A(S87A) Taxes Management Act (TMA) 1970 | Interest on overdue CT. |
S87A(4) TMA 1970 | Rules for determining the amount of late payment interest payable when liability to CT is met by surplus Advance Corporation Tax (ACT) carried back. |
S157 Finance Act (FA) 1989 | Rules for determining the amount of interest payable when liability to CT for a pre CT Pay and File Accounting Period (AP) is met by surplus ACT carried back. |
S239(3) Income and Corporation Taxes Act (ICTA) 1988 | Set off surplus ACT against CT payable in earlier APs. |