Regulation 6A Allocation of paymentsF1

(1)

This regulation applies where—

(a)

an entity (E) is either—

(i)

the relevant entity; or

(ii)

the responsible member; and

(b)

there has been an underpayment of E’s total liability for an applicable accounting period.

(2)

Any payment made by E in respect of that applicable accounting period shall be treated—

(a)

as a payment in respect of any amount of the bank levy which is unpaid for the applicable accounting period; and

(b)

to the extent that the payment exceeds the unpaid amount of the bank levy, as a payment in respect of corporation tax other than the bank levy for the applicable accounting period.

(3)

Whether there has been an underpayment of E’s total liability shall be ascertained in accordance with the provisions of Schedule 18.

Annotations

Textual amendments

F1: Reg. 6A inserted (11.8.2011) by The Corporation Tax (Instalment Payments) (Amendment) Regulations 2011 (S.I. 2011/1785), regs. 1(1), 9