Tax Collection and Management (Wales) Act 2016 section 157A

Late payment interest on penalties

Section 157A establishes that unpaid penalties relating to Welsh devolved taxes will attract late payment interest from the day after the payment deadline until the date the penalty is actually paid.

• This section applies to any penalty amount that relates to a Welsh devolved tax.
• If the penalty is not paid by its due date, late payment interest begins to accrue from the day after the deadline.
• Interest continues to run at the late payment interest rate until the date the penalty is actually paid in full.
• Where the taxpayer has died, a different start date for interest may apply under section 160.