[87A Interest on overdue corporation tax etc]
Taxes Management Act 1970 (1970 c 9) | Legislation

[87A  Interest on overdue corporation tax etc]

[(1)     Corporation tax shall carry interest at the [rate applicable under section 178 of the Finance Act 1989] from the date when the tax becomes due and payable (in accordance with [section 59D of this Act]) until payment.

(2)     Subsection (1) above applies even if the date when the tax becomes due and payable (as mentioned in that subsection) is a non-business day within the meaning of section 92 of the Bills of Exchange Act 1882.

(3)     In relation to corporation tax assessed [or treated as assessed] by virtue of section [346(2) or 347(1) of the principal Act,] [section 137(4), 139(7) . . . [or 190] of the 1992 Act . . . [paragraph 75A(2) of Schedule 18 to the Finance Act 1998]][, . . . paragraph 69 of Schedule 29 to the Finance Act 2002] [or Chapter 7 of Part 22 of CTA 2010] (which enable unpaid corporation tax assessed on a company to be assessed on other persons in certain circumstances), the reference in subsection (1) above to the date when the tax becomes

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