{
  "url": "https://openlegislation.uk/finance-act-2012/schedule-36/paragraph-18",
  "json_url": "https://openlegislation.uk/finance-act-2012/schedule-36/paragraph-18.json",
  "legislation": "ukpga/2012/14",
  "legislation_title": "Finance Act 2012",
  "legislation_url": "https://openlegislation.uk/finance-act-2012",
  "path": "schedule/36/paragraph/18",
  "kind": "paragraph",
  "number": "18",
  "heading": null,
  "text": "(1) Sub-paragraph (2) applies if the amount of a credit allowable under paragraph 15(3) exceeds the amount of income tax or, as the case may be, capital gains tax due from P for the applicable year (before set-off).\n(2) The excess is to be set against any amount of the other tax (income tax or capital gains tax) due from P for that year.\n(3) Nothing in this Part entitles any person to a repayment or refund of tax, save for any repayment to which P may be entitled as a result of paragraph 15(3) if, in relation to a credit allowable under that paragraph, there is any remaining balance after applying—\n(a) sub-paragraph (2), and\n(b) section 138(4)(a) or 140(5)(a) of TIOPA 2010, if applicable to the cleared amount.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2012/14/schedule/36/paragraph/18",
    "retrieved_at": "2026-10-29T09:08:44.989153+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}