Commentary

A4.625 Interest on late payment of tax—adjustment of interest charge

Administration and compliance

A4.625 Interest on late payment of tax—adjustment of interest charge

A4.625 Interest on late payment of tax—adjustment of interest charge

For the due dates for payment of tax under the self-assessment system, see E1.250, and under the corporation tax self-assessment system, see D1.1320 and D1.1328. There are a number of circumstances under which the due date for payment is adjusted for interest purposes, as follows:

  1.  

    •     where a taxpayer dies before the due date for payment of the tax and his personal representatives are unable to pay the tax before they obtain grant of probate or letters of administration, the relevant date is the later of the normal due date and the expiry of 30 days from the date of the grant; interest runs from that later date1

  2.  

    •     if, as a result of the action of the government of a country outside the UK, the Board allows the tax on income arising abroad to remain uncollected for the time being,

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial