SolvedCOM120012 | Repayments/reallocations: overpayments: general: legislation
From HM Revenue & Customs · COTAX Manual
The table below gives a brief explanation of what the legislation relevant to this subject contains.
| Section | Explanation |
| 86 Taxes Management Act (TMA) 1970 | Governs the charging of interest on overdue Income Tax and Capital Gains Tax. |
| 87 TMA 1970 | Governs the charging of interest on overdue ACT and IT-CP. |
| 87A TMA 1970 | Interest is charged from the due date to the date of payment. |
| 88 TMA 1970 | Governs the charging of interest on tax recovered to make good a loss to HMRC. |
| 455 Corporation Tax Act (CTA) 2010 | Assessments made in respect of loans or advances to participators. |
| 826 Income and Corporation Taxes Act (ICTA) 1988 | The repayment interest rules. |