SCHEDULES
I1SCHEDULE 53Late payment interest
C1Part 2Special provision: late payment interest start date
Sch. 53 Pt. 2 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 30(2)
Amendments and discovery assessments etc
3
1
This paragraph applies to any amount which is due and payable as a result of—
a
an amendment or correction to an assessment or self-assessment (“assessment A”),
b
an assessment made by HMRC in place of or in addition to an assessment (“assessment A”) which was made by a taxpayer, or
c
an assessment made by HMRC in place of an assessment (“assessment A”) which ought to have been made by a taxpayer.
2
The late payment interest start date in respect of that amount is the date which would have been the late payment interest start date if—
a
assessment A had been complete and accurate and had been made on the date (if any) by which it was required to be made, and
b
accordingly, the amount had been due and payable as a result of assessment A.
3
In the case of a person (“P”) who failed to give notice as required under section 7 of TMA 1970 (notice of liability to tax), the reference in sub-paragraph (1)(c) to an assessment which ought to have been made by P is a reference to the assessment which P would have been required to make if an officer of Revenue and Customs had given notice under section 8 of that Act.
4
In this paragraph “assessment” means any assessment or determination (however described) of any amount due and payable to HMRC.
Sch. 53 in force at 31.8.2010 for specified purposes by S.I. 2010/1878, art. 2 (with art. 3)