OpenLegislation

Section 157A Late payment interest on penaltiesF1C1

England and Wales

(1)

This section applies to an amount of penalty F2relating to F3WRA-collected tax.

(2)

If the amount is not paid on or before the date by which it is required to be paid, 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 following day, and

(b)

ending with the date of payment.

(3)

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

Words in s. 157A(1) substituted (1.4.2018) by Landfill Disposals Tax (Wales) Act 2017 (anaw 3), s. 97(2), Sch. 4 para. 15; S.I. 2018/35, art. 3

F3

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

Modifications

C1

S. 157A excluded (1.4.2018) by The Tax Collection and Management (Reimbursement Arrangements) (Wales) Regulations 2018 (S.I. 2018/88), regs. 1(2), 8(4)

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)