Section 952 | Conditions for a set-off claim

(1)A person who makes a section 946 payment may make a set-off claim if conditions A and B are met at the end of a return period which falls within an accounting period of the person.

(2)Condition A is that in the return period the person has—

(a)made a section 946 payment, or

(b)received a payment on which the person has suffered income tax by deduction.

(3)Condition B is that at the end of the return period there is—

(a)a net amount of income tax suffered (see subsection (4)), and

(b)a net amount of income tax payable (see subsection (5)).

(4)There is a net amount of income tax suffered at the end of a return period if—

(a)the person has received any payments on which income tax has been suffered by deduction in the return period or in any previous return period which falls within the accounting period, and

(b)the amount of income tax so suffered by the person on those payments exceeds the amount of such income tax treated as repaid for the accounting period to date as a result of any previous set-off claim.

(5)There is a net amount of income tax payable at the end of a return period if—

(a)the person has made any section 946 payments in the return period or in any previous return period which falls within the accounting period, and

(b)the amount of income tax payable by the person in respect of those payments exceeds the amount of such income tax treated as paid for the accounting period to date as a result of any previous set-off claim.