Taxes Management Act 1970 Schedule 4 paragraph 9

Interest on tax

Schedule 4 paragraph 9 establishes a special due date for interest purposes on certain surtax liabilities for the year 1965–66.

• This provision relates to surtax for the tax year 1965–66 and the calculation of interest on that tax.
• Where surtax is recovered to make good a loss caused by the taxpayer's fault under section 88, a special due date applies.
• The due date for the relevant portion of surtax is treated as 1 September 1967 rather than the normal date of 1 January 1967.
• Sub-paragraph (1) was repealed in 1975 and no longer applies to assessments issued after 31 July 1975.