Taxes Management Act 1970 section 70A

Payments by cheque

Section 70A establishes when a tax payment made by cheque is treated as having been received by HMRC, which is important for determining whether the payment was made on time.

• A cheque payment to HMRC is treated as made on the date the cheque was received, not the date it clears
• This treatment only applies if the cheque is honoured the first time it is presented to the bank
• The rule applies for purposes including the calculation of repayment supplements, interest on overpaid tax, and repayment interest
• The section is subject to any overriding regulations made under section 95(1) of the Finance Act 2007 concerning payment by cheque