Section 62 | Interest on unpaid tax. ^F1

(1)In the provisions mentioned in subsection (2) below (remission of interest on unpaid tax where the amount of interest does not exceed £10) for “£10” there shall be substituted “ £30 ”.

(2)The provisions referred to above are—

(a)section 86(6) of the Taxes Management Act 1970 (income tax, corporation tax and capital gains tax);

(b)section 87(4) of that Act (advance corporation tax and income tax on company payments); and

(c)section 87(3) of that Act as originally enacted (income tax on company distributions).

(3)This section has effect in relation to interest on tax charged by assessments notice of which is issued after the passing of this Act.