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Section 157 Late payment interest on WRA-collected taxesF1F2I1

England and Wales

(1)

This section applies to an amount of WRA-collected tax—

(a)

stated in a tax return as—

(i)

the tax chargeable, or

(ii)

if the tax return is a further return made by the buyer in a land transaction, the land transaction tax (or additional land transaction tax) payable;

(b)

payable—

(i)

as a result of an amendment to a tax return under section 41, 45 or 50;

(ii)

as a result of a correction to a tax return under section 42;

(iii)

in accordance with an assessment made in addition to a tax return under section 54 or 55, or

(c)

payable in accordance with—

(i)

a determination under section 52, or

(ii)

an assessment under section 54 or 55,

made in place of a tax return which was required to be made.

(F31A)

This section also applies to an amount of landfill disposals tax charged by a charging notice issued under section 49 or 50 of LDTA.

(2)

If the amount is not paid before the late payment interest start date, the amount carries interest (referred to in this Part as “"late payment interest””) at the late payment interest rate for the period—

(a)

beginning with the late payment interest start date, and

(b)

ending with the date of payment.

(3)

The late payment interest start date is —

(a)

in the case of an amount falling within subsection (1)(a) or (b), the date after the filing date for the tax return;

(b)

in the case of an amount falling within subsection (1)(c) the date after the filing date for the tax return which was required to be made.

(F4c)

in the case of an amount falling within subsection (1A), the date immediately after the end of the period specified in section 51 of LDTA.

(4)

But where section 160 applies the late payment interest start date is the date specified in that section.

Annotations

Textual amendments

F1

Ss. 157, 157A, 158 substituted (25.1.2018) for ss. 157, 158 by Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (anaw 1), s. 81(2)(3), Sch. 23 para. 58; S.I. 2018/34, art. 2(b)(ii)

F2

Word in Act substituted (19.9.2025) by Visitor Accommodation (Register and Levy) Etc. (Wales) Act 2025 (asc 5), s. 67(1), Sch. 2 para. 21

F3

S. 157(1A) inserted (1.4.2018) by Landfill Disposals Tax (Wales) Act 2017 (anaw 3), ss. 53(2), 97(2); S.I. 2018/35, art. 3

F4

S. 157(3)(c) inserted (1.4.2018) by Landfill Disposals Tax (Wales) Act 2017 (anaw 3), ss. 53(3), 97(2); S.I. 2018/35, art. 3

Commencement

I1

S. 157 in force at 1.4.2018 by S.I. 2018/33, art. 3

Notes on the whole Act

Textual amendments

F1

Word in Act substituted (19.9.2025) by Visitor Accommodation (Register and Levy) Etc. (Wales) Act 2025 (asc 5), s. 67(1), Sch. 2 para. 21

Notes on ...

Textual amendments

F1

S. 157 cross-heading omitted (25.1.2018) by virtue of Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (anaw 1), s. 81(2)(3), Sch. 23 para. 57; S.I. 2018/34, art. 2(b)(ii)