Taxes Management Act 1970 section 86A

Interest on development land tax unpaid on reckonable date

Section 86A dealt with interest charged on unpaid development land tax, a tax that has since been abolished.

• Development land tax was introduced by the Development Land Tax Act 1976 and later abolished by the Finance Act 1985.
• Section 86A provided for interest to be charged on any development land tax that remained unpaid after the reckonable date — the date by which the tax was due to be paid.
• The section was inserted into the Taxes Management Act 1970 by Schedule 8, paragraph 21 of the Development Land Tax Act 1976.
• The section was repealed by the Finance Act 1985, section 98(6) and Schedule 27 Part X, as part of the abolition of development land tax.