Section 235 Interest on overpaid tax.

United Kingdom

(1)

Any repayment of an amount paid in excess of a liability for tax or for interest on tax shall carry interest from the date on which the payment was made F1until the order for repayment is issued at F2the rate applicable under section 178 of the Finance Act 1989.

(2)

Interest paid under this section shall not constitute income for any tax purposes.

Annotations

Textual amendments

F1: Finance Act 1989 s. 180(4);deemed always to have had effect.
F2: Words in s. 235(1) substituted (21.7.2009) by Finance Act 2009 (c. 10), s. 105(4)(b)

Notes on the whole Act

Textual amendments

F1: By Finance Act 1986 s. 100(1), on and after 25 July 1986 the Capital Transfer Tax Act 1984 may be cited as the Inheritance Tax Act 1984.