VGDC60070 - Claims: payment of credit
You should check the other guidance available on GOV.UK from HMRC as Brexit updates to those pages are being prioritised before manuals.
S1217CJ Corporation Tax Act 2009
Set off against other liabilities
Where a Video Games Development Company (VGDC) claims a payable tax credit it is entitled to, it must be paid to it unless:
- the VGDC owes Corporation Tax then the credit and any repayment interest due to the company may be used to offset the liability, or
- if the VGDC has outstanding or purported liabilities for PAYE, deductions under S966 Income Tax Act 2007 (visiting performers) or Class 1 National Insurance contributions for the period for which the credit is owed, the payment may be withheld, or
- if the VGDC’s Corporation Tax return for the period in question is enquired into by HMRC then the payment may be withheld. A provisional partial payment may be made if appropriate.
Payment of the payable video games tax credit will carry interest from the later of:
- the filing date for the VGDC’s tax return for the period in relation to which the credit is payable, and
- the date on which the tax return (or amended return) in which the claim is included was submitted to HMRC.