Notice IPT 1, para. 18 (2002 edn): penalties
Interest on IPT may be recovered in another member state
(Recovery of Duties and Taxes Etc. Due in Other Member States (Corresponding
UK Claims, Procedure and Supplementary) Regulations 2004 (SI 2004/674), reg.
21(1) Where an assessment is made under any provision of section 56 of
this Act, the whole of the amount assessed shall carry interest at
the rate applicable under section
197 of the Finance Act 1996 from the reckonable date
until payment; but this is subject to sub-paragraph (2) and paragraph 25(7) below.
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