Introduction Details of the Section
2.Subsection 1 inserts new subsections (2A) to (2D) into section 38 of Finance Act 1994 (FA 1994).
3.New subsection (2A) provides that payments based on an estimate of liability may be required at prescribed times during a prescribed period.
4.New subsection (2B) and (2C) provide that such payments are to be calculated in accordance with the regulations, and are to be treated as payments made on account of the person's duty liability for the period.
5.New subsection (2D) provides that where this results in an overpayment of duty, the regulations must make provision that this is to be repaid or treated as duty paid for other periods, or both.
6.Subsections 2 and 3 inserts 'South Sudan' into Part 2 of Schedule 5A to FA 1994, and applies this change from 9 July 2011.