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Finance Act 2009
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Finance Act 2009, Part 2 is up to date with all changes known to be in force on or before 22 May 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Part 2U.K.Special provision as to repayment interest start date
Valid from 31/08/2010
Income tax deducted at sourceU.K.
6U.K.In the case of a repayment of income tax deducted at source for a tax year, the repayment interest start date is 31 January next following that year.
Valid from 31/08/2010
Carry back of losses and averagingU.K.
7U.K.In the case of any amount which is to be repaid as a result of a claim for relief under—
(a)paragraph 2 of Schedule 1B to TMA 1970 (carry back of loss relief from later year to earlier year), or
(b)Chapter 16 of Part 2 of ITTOIA 2005 (claim for averaging of profits of farmers etc over two consecutive years),
the repayment interest start date is 31 January next following the year that is the later year in relation to the claim.
Valid from 31/08/2010
MIRASU.K.
8U.K.In the case of any payment under regulations under section 375(8) of ICTA (MIRAS: payments equivalent to deductions which could have been made), the repayment interest start date is 31 January next following the tax year in which the interest payment mentioned in section 375(8)(c) was made.
Valid from 31/08/2010
Income accumulated under certain trustsU.K.
9U.K.In the case of a repayment made in consequence of a claim under section 228 of the Income Tax Act 1952 (relief in respect of income accumulated under trusts), the repayment is to be treated as if it were a repayment of income tax paid by the claimant for the tax year in which the contingency mentioned in that section happened.
[F1Tax on payments out of discretionary trust taxable as employment incomeU.K.
Valid from 31/08/2010
9A.U.K. In the case of a repayment made in consequence of a claim under section 496B of ITA 2007 (relief for payments by discretionary trust taxable as employment income) the repayment interest start date is 31 January next following the end of the tax year to which the claim relates. ]
Valid from 31/08/2010
Certain amounts of inheritance taxU.K.
10U.K.An amount of inheritance tax which is overpaid in consequence of any of the following provisions—
(a)section 146(1) of IHTA 1984,
(b)section 19 of the Inheritance (Provision for Family and Dependants) Act 1975, or
(c)Article 21 of the Inheritance (Provision for Family and Dependants) (Northern Ireland) Order 1979,
does not carry repayment interest before the order mentioned in that provision is made.
11U.K.In the case of an amount which is repayable on a claim under section 146(2) or 150 of IHTA 1984, the repayment interest start date is the date on which the claim is made.
12U.K.In the case of an amount which is repayable under section 147(2) of IHTA 1984, the repayment interest start date is the date on which the tax was paid.
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