[554Z11C Earlier income tax liability: treatment of payments]
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

[554Z11C  Earlier income tax liability: treatment of payments]

[(1)     In this section—

(a)     “the earlier charge” means so much of the earlier tax liability as relates to the overlap between sum or asset P and sum or asset Q, and

(b)     “the Chapter 2 overlap charge” means so much of the Chapter 2 tax liability as relates to the overlap between sum or asset P and sum or asset Q.

(2)     The amount of a tax liability that relates to the overlap between sum or asset P and sum or asset Q is to be determined on a just and reasonable basis.

(3)     Subsection (4) applies where, after the relevant step is taken, an amount (the “earlier charge paid amount”) is paid in respect of all or part of—

(a)     the earlier charge,

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