The Income Tax (Interest Relief) (Amendment) Regulations 1996

• Citation: S.I. 1996/1184
• Sections: 4

Section 1

These Regulations may be cited as the Income Tax (Interest Relief) (Amendment) Regulations 1996 and shall come into force on 20th May 1996.

Section 2

The Income Tax (Interest Relief) Regulations 1982 shall be amended in accordance with regulations 3 and 4.

Section 3

(1) This regulation applies in any case where an assessment —

(a) is made on or after the date on which these Regulations come into force, and

(b) is for the year 1996 – 97 or any subsequent year of assessment.

(2) For paragraph (3) of regulation 8B there shall be substituted the following paragraph—

(3) The Taxes Management Act 1970 shall apply to an assessment under paragraph (2) as if it were an assessment to income tax for the year of assessment for which the payment was made.

Section 4

(1) This regulation applies in any case where an assessment —

(a) is made on or after 6th April 1998, and

(b) is for the year 1995 – 96 or any earlier year of assessment.

(2) For paragraph (3) of regulation 8B there shall be substituted the following paragraph—

(3) The Taxes Management Act 1970 shall apply to an assessment under paragraph (2) as if it were an assessment to income tax for the year of assessment for which the payment was made and as if the assessment were among those specified in section 55(1) of that Act (recovery of tax not postponed) .