# Finance Act 2016, Paragraph 9


(1) Section 87 (interest on unpaid tax) is amended as follows.
(2) In subsection (3)—
(a) in paragraph (a)—
(i) omit “or” at the end of sub-paragraph (ii), and
(ii) after sub-paragraph (ii) insert—
“(iia) paragraph 5, 7 or 8 of Schedule 7A (PAIF seeding relief),
(iib) paragraph 13, 17 or 18 of Schedule 7A (COACS seeding relief), or”;
(b) after paragraph (aza) insert—
“(azb) in the case of an amount payable under paragraph 6(3) of Schedule 7A (PAIF seeding relief: portfolio test), the first time mentioned in paragraph 6(3)(a) or (b) at which the portfolio test was not met;
(azc) in the case of an amount payable under paragraph 14(1) of Schedule 7A (COACS seeding relief: genuine diversity of ownership condition) because the genuine diversity of ownership condition was not met at a time mentioned in paragraph 14(1)(b) or (c), the first time mentioned in paragraph 14(1)(b) or (c) at which that condition was not met;
(azd) in the case of an amount payable under paragraph 16(3) of Schedule 7A (COACS seeding relief: portfolio test), the first time mentioned in paragraph 16(3)(a) or (b) at which the portfolio test was not met;”.
(3) In subsection (4), for “means—” to the end substitute “ has the same meaning as in section 81(4). ”

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Source: https://www.legislation.gov.uk/ukpga/2016/24/schedule/16/paragraph/9 (the official version)
Page: https://openlegislation.uk/finance-act-2016/schedule-16/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.