Related Commentary  Related CasesRelated HMRC Manuals

87(1)  Income tax which is assessable under Chapter 15 of Part 15 of ITA 2007 carries interest at the rate applicable under section 178 of the Finance Act 1989 from the date when it was due under section 951 of ITA 2007 until payment.

87(2)  Subsection (1) applies–

(a)whether or not an assessment is made, and

(b)whether or not income tax which is assessed has been paid when the assessment is made.

87(3)  Subsection (1) applies even if the date when the income tax should have been paid is a non-business day as defined by section 92 of the Bills of Exchange Act 1882.

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