825 Repayment supplements: companies
Income and Corporation Taxes Act 1988 (1988 c 1) | Legislation

825  Repayment supplements: companies

(1)     This section applies to the following payments made to a company in connection with any accounting period for which the company was resident in the United Kingdom (“the relevant accounting period”), that is to say—

(a)     a repayment of corporation tax paid by the company for that accounting period (including advance corporation tax paid in respect of distributions made by the company in that accounting period . . . ); or

(b)     a repayment of income tax in respect of a payment received by the company in that accounting period on which the company bore income tax by deduction. . .

(c)     . . ..

(2)     Subject to the following provisions of this section, where a payment . . . to which this section applies is made by the Board or an inspector after the end of the 12 months beginning with the material date, the payment shall be increased under this section by an amount (a “repayment supplement”) equal to interest on the amount paid at the [rate applicable under section 178 of the Finance Act 1989] for each complete tax month contained in the period (if any) beginning with the relevant

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