821 Under-deductions from payments made before passing of annual Act
Income and Corporation Taxes Act 1988 (1988 c 1) | Legislation

821  Under-deductions from payments made before passing of annual Act

(1)     Where, in any year of assessment [or accounting period], any half-yearly or quarterly payments [(or half-periodic or quarterly payments)] have been made on account of any interest, dividends or other annual profits or gains, previously to the passing of the Act imposing income [or corporation] tax for that year [or period], and tax has not been charged thereon or deducted therefrom or has not been charged thereon or deducted therefrom at the rate ultimately imposed for that year [or period]—

(a)     the amount not so charged or deducted shall be charged [in respect of those payments

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

The Money Laundering Reporting Officer (MLRO)

The Money Laundering Reporting Officer (MLRO)OverviewThe requirements to have robust systems and controls in a regulated firm to prevent money laundering originate from:•the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (as

LEXISNEXIS

VAT definition

LEXISNEXIS

Debt for equity swaps

Debt for equity swapsA popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or cancelling their debt claims against the company (and the rest of the group).Many highly levered deals have thin equity cushions and

LEXISNEXIS

Facilitation payments under the Bribery Act 2010

Facilitation payments under the Bribery Act 2010Facilitating the performance of a duty by public officialsFacilitation payments, also known as facilitating or grease payments, are generally small amounts of money paid to public officials or others as a means of ensuring that they perform their duty,