Commentary

A4.633 Interest on overpaid tax and tax paid early—corporation tax: large companies and very large companies

Administration and compliance

A4.633 Interest on overpaid tax and tax paid early—corporation tax: large companies and very large companies

A4.633 Interest on overpaid tax and tax paid early—corporation tax: large companies and very large companies

Special provisions apply to the calculation of interest on corporation tax overpaid by large companies and very large companies1.

The rates of interest payable are based on the official Bank of England base lending rate (RR) as determined by the Monetary Policy Committee of the Bank of England (see A4.623)2.

A higher rate of interest is paid on tax paid in instalments (see D1.1328); this rate applies from the date of payment of the tax (or, if later, the date on which the instalment was due)

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