[59A Payments on account of income tax]
Taxes Management Act 1970 (1970 c 9) | Legislation

[Part VA Payment of Tax]

[Income tax and capital gains tax]

[59A  Payments on account of income tax]

[(1)     [Subject to subsection (9) below,] this section applies to any person (the taxpayer) as regards a year of assessment if as regards the immediately preceding year—

(a)     he [is assessed] to income tax under section 9 [section 8 or 8A] of this Act in any amount, and

(b)     that amount (the assessed amount) exceeds the amount of any income tax which has been deducted at source, and

(c)     the amount of the excess (the relevant amount) is not less than such amount as may be prescribed by regulations made by the Board, and

(d)     the proportion which the relevant amount bears to the assessed amount is not less than such proportion as may be so prescribed.

(2)     Subject to subsection (3) below, the taxpayer shall make two payments on account of his liability to income tax for the year of assessment—

(a)     the first on or before the 31st January in that year, and

(b)     the second on or before the next following 31st July;

and, subject to [subsections [(4) to (4B)]] below, each of those payments

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