Link Report

“final instalment” shall be construed in accordance with section 959AS(1);

“final relevant instalment” shall be construed in accordance with section 959AS(5);

“initial instalment” shall be construed in accordance with section 959AS(1);

“initial relevant instalment” shall be construed in accordance with section 959AS(5);

(2) An accounting period is not a relevant accounting period where, but for this subsection, the final instalment of preliminary tax would, by reason of the dates on which the accounting period starts and ends, be due and payable in accordance with section 959AS(2) on or before the date on which the initial instalment would be due and payable in accordance with that section.

(6) References in this Chapter to the due date for the payment of the initial instalment, or the final instalment, of preliminary tax shall, in the case where that tax is due for a relevant accounting period, be construed in accordance with section 959AS(2).

then the preliminary tax appropriate to the accounting period shall be deemed to be nil and neither subsection (3) of section 959AR nor subsection (4) of section 959AS apply as respects that accounting period.

A is the amount of the initial instalment of preliminary tax paid by the surrendering company for the relevant period in accordance with subsection (2) of section 959AS, and

C is the amount of preliminary tax paid by the surrendering company for the relevant period in accordance with section 959AR(1) or section 959AS(2), as the case may be, and

(i) an initial instalment of preliminary tax for an accounting period (in this subsection referred to as the “relevant period”) in accordance with subsection (2) of section 959AS, being an amount which exceeds, or exceeds the lower of—

(iii) an amount of preliminary tax for a relevant period in accordance with section 959AR(1) or section 959AS(2), as the case may be, being an amount which exceeds 90 per cent of the tax payable by the surrendering company for the relevant period, or

(i) an initial instalment of preliminary tax for an accounting period in accordance with subsection (2) of section 959AS, being an amount which is less than, or less than the lower of—

(iii) an amount of preliminary tax for an accounting period in accordance with subsection (2) of section 959AS, being an amount which is less than 90 per cent of the tax payable by the claimant company for the accounting period,

(i) an additional amount of preliminary tax equal to the relevant initial balance shall be deemed for the purposes of subsection (4)(b) of section 959AS to have been paid by the claimant company on the due date for the payment of the initial instalment of preliminary tax of that company for the relevant period if 100 per cent of the tax payable by the claimant company for the relevant period, disregarding this subparagraph, is paid on or before the specified return date for the relevant period, and

(i) an additional amount of preliminary tax equal to the relevant final balance shall be deemed for the purposes of subsection (4)(d) of section 959AS to have been paid by the claimant company on the due date for the payment of the final instalment of preliminary tax of that company for the relevant period if 100 per cent of the tax payable by the claimant company for the relevant period, disregarding this subparagraph, is paid on or before the specified return date for the relevant period, and

(b) the tax charged by the assessment was due and payable in accordance with section 959AO(2), section 959AQ, section 958AR(3) or section 958AS(3) section 959AR(3) or section 959AS(3), as the case may be,