# Tax Collection and Management (Wales) Act 2016, Section 161: Repayment interest on amounts payable by WRA

Extent: E+W

(1) This section applies to any relevant amount paid by a person to WRA that is repaid by WRA to that person or to another person.
(2) “Relevant amount” means an amount paid in connection with any liability (including any purported or anticipated liability) to pay to WRA—
(a) an amount of WRA-collected tax, ...
(b) an amount of penalty relating to WRA-collected tax , or
(c) an amount in respect of a tax credit.
(3) If an amount to which this section applies is not repaid before the repayment interest start date, the amount carries interest (referred to in this Part as “repayment interest”) at the repayment interest rate for the period—
(a) beginning with the repayment interest start date, and
(b) ending with the date of repayment.
(4) The repayment interest start date for the relevant amount is the later of—
(a) the day on which the relevant amount was paid to WRA, and
(b) the day on which the amount mentioned in subsection (2)(a), (b) or (c), in connection with which the relevant amount was paid, became payable to WRA.
(5) Subsection (3)(a) applies even if the repayment interest start date is a non-business day within the meaning of section 92 of the Bills of Exchange Act 1882 (c. 61).
(6) In this section, “repayment interest rate” has the meaning given by section 163(2).

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Source: https://www.legislation.gov.uk/anaw/2016/6/section/161 (the official version)
Page: https://openlegislation.uk/tax-collection-and-management-wales-act-2016/section-161
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.