# Finance Act 2022, Paragraph 50: Late interest

Extent: E+W+S+N.I.

(1) Section 373(1) of CTA 2009 (late interest treated as not accruing until paid in some cases) does not apply to a qualifying debit.
(2) For the purpose of this paragraph, a debit is “qualifying” if—
(a) it relates to interest payable under a debtor relationship of a QAHC,
(b) the QAHC is party to the relationship for the purposes of its QAHC ring fence business, and
(c) the interest to which the debit relates accrues at a time when the QAHC is a QAHC.
(3) Where a QAHC is party to a debtor relationship partly for the purposes of its QAHC ring fence business and partly for another purpose, sub-paragraph (1) applies only to the proportion of the qualifying debit that is attributable to the QAHC ring fence business (apportioned on a just and reasonable basis).
(4) In this paragraph “debit” and “debtor relationship” are to be construed in accordance with Part 5 of CTA 2009.

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Source: https://www.legislation.gov.uk/ukpga/2022/3/schedule/2/paragraph/50 (the official version)
Page: https://openlegislation.uk/finance-act-2022/schedule-2/paragraph-50
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.