Part 2 Special Provision as to Repayment Interest Start Date
Finance Act 2009 (2009 c 10) | Legislation

Part 2 Special Provision as to Repayment Interest Start Date

Income tax deducted at source

6

In the case of a repayment of income tax deducted at source for a tax year, the repayment interest start date is 31 January next following that year.

Carry back of losses and averaging

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In the case of any amount which is to be repaid as a result of a claim for relief under—

(a)     paragraph 2 of Schedule 1B to TMA 1970 (carry back of loss relief from later year to earlier year), or

(b)     Chapter 16 of Part 2 of ITTOIA 2005 (claim for averaging of profits of farmers etc over two consecutive years), the repayment interest start date is 31 January next following the year that is the later year in relation to the claim.

MIRAS

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In the case of any payment under regulations under section 375(8) of ICTA (MIRAS: payments equivalent to deductions which could have been made), the repayment interest start date is 31 January next following the tax year in which the interest payment mentioned in section 375(8)(c) was made.

Income accumulated under certain trusts

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In

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