Section 105 | Miscellaneous amendments

(1)Section 239 of ITA 2007 (date from which interest is chargeable when EIS relief is withdrawn or reduced) is amended as follows.

(2)In subsection (1)—

(a)for “in column 1 of the following table” substitute “ in subsection (2) ”,

(b)for “given by the corresponding entry in column 2 of the table” substitute “ 31 January next following the tax year for which the assessment is made ”, and

(c)omit the table.

(3)For subsection (2) substitute—

(2)The provisions are—

section 163,

section 164,

section 173A,

any of sections 181 to 188,

section 209,

section 212(1),

section 213,

section 224,

section 232, and

section 233.

(4)In the following provisions, for the words from “the same rate” to the end substitute “ the rate applicable under section 178 of the Finance Act 1989 ”

(a)section 48(1) of FA 1975 (interest on repayment of estate duty), and

(b)section 235(1) of IHTA 1984 (interest on overpaid inheritance tax).

(5)In section 178(2) of FA 1989 (setting of rates of interest)—

(a)after paragraph (g) insert—

(ga)section 48(1) of the Finance Act 1975,

, and

(b)in paragraph (k), after “sections 233” insert “ , 235(1) ”.

(6)The following provisions (which require HMRC to make an order specifying the new rate of interest when that rate is changed by operation of regulations) are omitted—

(a)section 178(5) of FA 1989, and

(b)section 197(5) of FA 1996.