[86 Interest on overdue income tax and capital gains tax]
Taxes Management Act 1970 (1970 c 9) | Legislation

Part IX Interest on Overdue Tax

[86  Interest on overdue income tax and capital gains tax]

[(1)     The following, namely—

(a)     any amount on account of income tax which becomes due and payable in accordance with section 59A(2) of this Act, and

(b)     any income tax or capital gains tax which becomes due and payable in accordance with section 55 or 59B of this Act,

shall carry interest at the rate applicable under section 178 of the Finance Act 1989 from the relevant date until payment.

(2)     For the purposes of subsection (1)(a) above the relevant date is whichever of the dates mentioned in section 59A(2) of this Act is applicable; and for the purposes of subsection (1)(b) above the relevant date is—

(a)     in any such case as is mentioned in subsection (3) of section 59B of this Act, the last day

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