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HMRC internal manual

COTAX Manual

Payments: quarterly instalment payments: legislation

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

Section Explanation
Corporation Tax (Instalment Payments) Regulations 1998 (SI 1998 No 3175  
The Corporation Tax (Instalment Payments) (Amendment) Regulations 1999 (SI 1999/1929) The Corporation Tax (Instalment Payments) (Amendment) Regulations 2000 (SI 2000 no 892) Governs quarterly instalment payments (QIPs) and sets out the requirement for large companies to pay in instalments.  
  Regulation 6 Deals with repayments before liability is finally established and allows a company which has made instalment payments to apply for repayment of the excess paid within specified parameters.
  Regulation 9 Deals with intra-group surrender of excessive instalment payments.
  Regulation 10 Information power provision to seek information in connection with the computation of QIPs, failure to make QIPs and / or a claim to repayment under Regulation 6.
  Regulation 11 Information power provision requiring the company to produce books and documents and other records, relating to matters and for the purposes of Regulation 10.
  Regulation 12 Inspection of records provision requiring that where records required under Regulation 11 are kept on computer the company is to provide the necessary facilities to view the documents.
  Regulation 13 Sets out the circumstances under which a company may be liable to a penalty for unpaid tax.
  Regulation 14 Anti-avoidance provision. Applied where an amount or amounts of CT for any part of an AP beginning after 1 July 1998 and ending before 1 July 2002 became payable later than it would otherwise have done.
  S963 CTA 2010 (formerly S102 FA 89) Intra group surrenders. Enables a member of a group which is entitled to a repayment of CT, IT or tax credit to surrender all or part of it to another member of the group.
  S178 FA89 Prescribes the rates of both late and repayment interest.
  S826 ICTA 1988 as amended by Regulation 8 of the CT (Instalment Payments) Regulations 1998 (SI 1998 No 3175) Credit interest provisions.
  S87A TMA 1970 as amended by Regulation 7 of the CT (Instalment Payments) Regulations 1998 ( I 1998 No 3175) Debit interest provisions.