Section 968 | Treatment of sums representing income tax

(1)This section applies if, in accordance with section 966(3) or (4), a person pays a sum to the Commissioners for Her Majesty's Revenue and Customs.

(2)The sum is treated as paid on account of a liability of another person to income tax or corporation tax.

(3)The liability and the other person are to be found in accordance with prescribed rules.

(4)If the sum exceeds the liability concerned, the Commissioners must pay so much of the sum as is appropriate to the other person.

(5)If no liability is found, the Commissioners must pay the sum to the recipient of the relevant payment or transfer.

(6)The relevant payment or transfer is the payment or transfer—

(a)to which section 966 applies, and

(b)which gave rise to the payment of the sum.

(7)A reference to a sum in this section does not include anything representing interest.