COM153041 - Claims / reliefs: ACT: legislation: surplus ACT created by loss carry-back

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

Section	Explanation
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 and the ACT is itself carried back to an earlier AP.
826(7AA) ICTA 1988	Restricts repayment interest when ACT is made surplus because of a loss carry-back or the ACT itself is carried back to a CT Pay and File AP.