SDLTM85930 - Interest on unpaid tax – Relevant date
Interest is payable on any unpaid tax from 14 days after the relevant date, in accordance with FA03/S87.
Prior to 1 March 2019, where a return and the tax due was required within 30 days, interest is payable on an amount of unpaid tax from 30 days after the relevant date.
For most cases the relevant date will be the effective date of the transaction.
Specific cases
When relief is withdrawn under:
FA03/SCH6A (relief for certain acquisitions of residential property). See SDLTM21000.
FA03/SCH7/PART1 (Group Relief). See SDLTM23070.
FA03/SCH7/PART2 (Reconstruction or acquisition relief). See SDLTM23230.
FA03/SCH8 (Charities Relief). See SDLTM26005.
The relevant date will be the date of the disqualifying event. See FA03/ S81/ PARA 4 for the definition of a disqualifying event.
Multiple Dwellings Relief (MDR)
If there is a change of circumstances where Multiple Dwellings Relief (MDR) has been claimed under FA03/SCH6B/PARA6, the relevant date is the date of the event. See SDLTM29965.
(MDR relief has been abolished for transactions which complete, or substantially perform on or after 1 June 2024, subject to transitional rules. See SDLTM29902+)
Relief for special tax sites
Where relief for freeport tax sites is withdrawn (FA03/SCH6C/Part 3) and there are alternative finance arrangements in place (FA03/SCH6C/PARA11), the relevant date is the date of the disqualifying event. See SDLTM20200.
Later linked transactions
If, due to a later linked transaction an amount becomes payable, then the relevant date is the effective date of that later transaction. See SDLTM50350.
Leases
If a lease continues after the fixed term, and an amount becomes payable as a result under FA03/SCH17A/PARA 3, then the relevant date is the final day of that period (or any further period). See SDLTM14060 for guidance on leases treated as continuing after a fixed term.
If an amount becomes payable in relation to a lease for an indefinite term, under FA03/SCH17A/PARA4, the relevant date is the date on which the lease becomes treated as being for a longer fixed term. See SDLTM14050 and SDLTM14070.
Deferment
When a deferred payment under FA03/S90 has been applied for and agreed the relevant date is the date upon which the deferred payment falls due. See SDLTM50900.