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Home / Simons-Taxes /Administration and compliance /Part A4 Returns, assessment and collection /Division A4.6 Collection of tax /Interest on overpaid tax and tax paid early / A4.632 Interest on overpaid tax and tax paid early—corporation tax
Commentary

A4.632 Interest on overpaid tax and tax paid early—corporation tax


Administration and compliance

Interest is payable on payments to a company representing1:

  1. Ìý

    (a)ÌýÌýÌýÌý repayment of corporation tax overpaid

  2. Ìý

    (b)ÌýÌýÌýÌý repayment of income tax deducted at source

  3. Ìý

    (c)ÌýÌýÌýÌý payment of R&D tax credit2

  4. Ìý

    (d)ÌýÌýÌýÌý payment of vaccine research tax credit3

  5. Ìý

    (e)ÌýÌýÌýÌý payment of land remediation tax credit (see D1.513)4

  6. Ìý

    (f)ÌýÌýÌýÌý payment of film tax credit, television tax credit, video game tax credit, theatre tax credit or orchestra tax credit5, or

  7. Ìý

    (g)ÌýÌýÌýÌý payment of first-year tax credit (which will not be available in relation to expenditure incurred on or after 1 April 2020, see B3.324H)6

  8. Ìý

    (h)ÌýÌýÌýÌý payment of museums and galleries exhibition tax credit7

The interest is payable without deduction of tax but, is chargeable to corporation tax under the loan relationship rules8. See D1.743

Material date

Interest is paid from the 'material date', as follows:

  1. Ìý

    •ÌýÌýÌýÌý for a payment under (a) above, interest runs from the later of:

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