Section 59BA Payment of income tax and capital gains tax: simple assessmentsF1

United Kingdom

(1)

This section applies where a person has been given a simple assessment in relation to a year of assessment.

(2)

Subject to subsection (3), the difference between—

(a)

the amount of income tax and capital gains tax for that year contained in the simple assessment, and

(b)

the aggregate of any payments on account made by the person in respect of that year (whether under section 59A F2of this Act or under Schedule 2 to the Finance Act 2019 or otherwise) and any income tax which in respect of that year has been deducted at source,

is payable by that person as mentioned in subsection (4) or (5).

(3)

Nothing in subsection (2) is to be read as requiring the repayment of any income tax which any provision of the Income Tax Acts provides is not repayable.

(4)

In a case where the person is given notice of the simple assessment after the 31st October next after the year of assessment, the difference is payable at the end of the period of 3 months after the day on which that notice was given.

(5)

In any other case the difference is payable on or before the 31st January next after the end of the year of assessment.

(6)

Section 59B(7) (which explains references to income tax deducted at source) applies for the purposes of this section.

(7)

PAYE regulations may provide that, for the purpose of determining the amount of the difference mentioned in subsection (2), any necessary adjustments in respect of matters prescribed in the regulations shall be made to the amount of tax deducted at source under PAYE regulations.

Annotations

Textual amendments

F1: S. 59BA inserted (with effect in accordance with s. 167(2) of the amending Act) by Finance Act 2016 (c. 24), Sch. 23 para. 8
F2: Words in s. 59BA(2)(b) substituted (with effect in accordance with Sch. 2 para. 32(1) of the amending Act) by Finance Act 2019 (c. 1), Sch. 2 para. 25(13)

Notes on Part VA

Textual amendments

F1: Pt. 5A inserted (with effect in accordance with s. 199(2)(3) of the amending Act) by Finance Act 1994 (c. 9), s. 192 (with s. 198(1)); S.I. 1998/3173, art. 2

Modifications

C1: Pt. 5A modified (with effect in accordance with s. 117(4)(5) of the amending Act) by Finance Act 1998 (c. 36), Sch. 18 para. 39(2)(a) (with Sch. 18 para. 59(2)); S.I. 1998/3173, art. 2
C2: Pt. 5A applied (with modifications) (E.W.S.) by The Education (Student Loans) (Repayment) Regulations 2009 (S.I. 2009/470), reg. 62(4) (as amended (with application in accordance with reg. 1(2) of the amending S.I.) by S.I. 2010/661, regs. 1(1), 5)
C3: Pt. 5A applied in part (with modifications) by the Social Security Contributions and Benefits Act 1992 (c. 4), s. 11A(1)-(3) (as substituted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para 3)
C4: Pt. 5A applied in part (with modifications) by the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7), s. 11A(1)-(3) (as substituted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para 12)
C5: Pt. 5A applied (with modifications) (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 79(4)
C6: Pts. 4-6 applied (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 9(3)
C7: Pt. 5A applied (with modifications) (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 11(2)

Notes on Income tax and capital gains tax

Textual amendments

F1: Pt. 5A inserted (with effect in accordance with s. 199(2)(3) of the amending Act) by Finance Act 1994 (c. 9), s. 192 (with s. 198(1)); S.I. 1998/3173, art. 2
F2: S. 59A cross-heading inserted (with effect in accordance with s. 117(4)(5) of the amending Act) by Finance Act 1998 (c. 36), Sch. 19 para. 29(1); S.I. 1998/3173, art. 2