[Part 1 Corporation Tax]
Finance Act 2009 (2009 c 10) | Legislation

[SCHEDULE 54A Further Provision as to Late Payment Interest and Repayment Interest]

[Section 103A]

[Part 1 Corporation Tax]

[Certain amounts of repayment interest recoverable as late payment interest

1

Where each of conditions A to D (see paragraph 2) is met, an amount of repayment interest that—

(a)     has been paid to a company, but

(b)     ought not to have been paid (see condition D),

may be recovered from the company as if it were late payment interest.

2

(1)     This paragraph applies for the purposes of paragraph 1.

(2)     Condition A is that repayment interest has been paid to the company on—

(a)     a repayment of corporation tax paid by the company for an accounting period,

(b)     a payment of first-year tax credit under Schedule A1 to CAA 2001 for an accounting period,

(c)     a payment of R&D tax credit under Chapter 2 or 7 of Part 13 of CTA 2009 for an accounting period,

(d)     a payment of land remediation tax credit or life assurance company tax credit under Part 14 of CTA 2009 for an accounting period, . . .

(e)

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