Related Commentary  Related HMRC Manuals

1(1)  This paragraph applies where as regards a tax year–

(a)payments on account are payable by a person (“P”),

(b)P makes a claim under section 59A(3) or (4) of TMA 1970 (reduction of payments on account) in respect of those amounts, and

(c)a balancing payment becomes payable by P.

1(2)  Late payment interest is to be calculated as if each of the payments on account had been equal to the lesser of the following amounts–

(a)the aggregate of that payment on account and 50% of the balancing payment, and

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