COM122093 | Repayments/reallocations: non automatic reallocations: legislation: reallocations in Government Banking & Payments

From HM Revenue & Customs · COTAX Manual

The table below gives a brief explanation of what the legislation relevant to this subject contains.

Section	Explanation
87A Taxes Management Act (TMA) 1970	Imposes late payment interest on late payments of tax made by companies.
458 Corporation Tax Act (CTA) 2010	Relief in terms of tax against a liability under S455 CTA 2010 or S419 ICTA 1988, when the loan or advance to the participator has been repaid (or repaid in part) on or after 01 April 2010.
419(4) Income and Corporation Taxes Act (ICTA) 1988	Relief in terms of tax against a liability under S419 ICTA 1988, when the loan or advance to the participator has been repaid (or repaid in part) before 01 April 2010.
826 ICTA 1988	Allows the payment of repayment interest.
S963 CTA 2010 (formerly 102 FA 1989)	Surrender of company tax refund within the group.
S963 CTA 2010 extended by Regulation 9 of the CT (Instalment Payments Regulations 1998 (SI 1998 No. 3175) as amended by Reg 3 of the CT (Instalment Payments) (Amendment) Regulations 1999	Surrender of company tax refund within a group when one or the other company is a quarterly instalment payer.