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Section 17 Repayment: tax paid at greater rate instead of starting rate for savings or savings nil rateF4F5F6

United Kingdom

(1)

This section applies if income tax F1at a rate greater than the starting rate for savings has been paid on income on which income tax is chargeable at the F2starting rate for savings.

F3(1A)

This section also applies if income tax at a rate greater than the savings nil rate has been paid on income on which income tax is chargeable at the savings nil rate.

(2)

If a claim is made, any necessary repayment of tax must be made.

Annotations

Textual amendments

F1

S. 17(1) words substituted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(14)(24); S.I. 2016/1161, regs. 2, 3

F2

Words in s. 17(1) substituted (21.7.2008 with effect in accordance with Sch. 1 para. 65 of the amending Act) by Finance Act 2008 (c. 9), Sch. 1 para. 8(2)

F3

S. 17(1A) inserted (with effect for the tax year 2016-17 and subsequent years) by Finance Act 2016 (c. 24), s. 4(7)(a)(17)

F4

Word in s. 17 heading substituted (with effect for the tax year 2016-17 and subsequent years) by Finance Act 2016 (c. 24), s. 4(7)(b)(i)(17)

F5

Words in s. 17 heading substituted (21.7.2008 with effect in accordance with Sch. 1 para. 65 of the amending Act) by Finance Act 2008 (c. 9), Sch. 1 para. 8(3)

F6

Words in s. 17 heading inserted (with effect for the tax year 2016-17 and subsequent years) by Finance Act 2016 (c. 24), s. 4(7)(b)(ii)(17)