Paragraph 4
United Kingdom
F1. . . Income tax in respect of any payment required to be included in a return under this Schedule shall be due at the time by which the return is to be made, and income tax so due—
shall be payable by the company without the making of any assessment; and
may be assessed on the company (whether or not it has been paid when the assessment is made) if it, or any part of it, is not paid on or before the due date.
If it appears to F2an officer of the Board that there is a relevant payment which ought to have been and has not been included in a return, F3or if an officer of the Board is of the opinion that a return is incorrect, any such officer may make an assessment on the company to the best of his judgment; and any income tax due under an assessment made by virtue of this sub-paragraph shall be treated for the purposes of interest on unpaid tax as having been payable at the time when it would have been payable if a correct return had been made.
F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Annotations
Textual amendments
- F1
Words in Sch. 16 para. 4(1) repealed (with effect in accordance with s. 91(5) of the repealing Act) by Finance Act 1999 (c. 16), s. 91(2)(a), Sch. 20 Pt. 3(19), Note
- F2
Words in Sch. 16 para. 4(2) substituted (with effect in accordance with s. 137(2)(3) of the amending Act) by Finance Act 1996 (c. 8). Sch. 23 para. 11(a)
- F3
Words in Sch. 16 para. 4(2) substituted (with effect in accordance with s. 137(2)(3) of the amending Act) by Finance Act 1996 (c. 8). Sch. 23 para. 11(b)
- F4
Sch. 16 para. 4(3) repealed (with effect in accordance with s. 91(5) of the repealing Act) by Finance Act 1999 (c. 16), s. 91(2)(b), Sch. 20 Pt. 3(19), Note
Notes on Schedule 16
Textual amendments
- F1
Sch. 16 repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 235, Sch. 3 Pt. 1 (with Sch. 2)