Introduction Details of the Section
2.Subsection (1) amends the overpayment relief provision for income tax and capital gains tax in Schedule 1AB to TMA 1970 by inserting new sub-paragraphs (9A) and (9B) into paragraph 2.
3.New sub-paragraph (9A) disapplies two restrictions (Cases G and H) for overpayment relief if the tax was charged contrary to EU law. The restrictions apply to tax which is calculated in accordance with the practice generally prevailing.
4.New sub-paragraph (9B) defines when tax is charged contrary to EU law.
5.Subsections (2) to (4) make similar changes to disapply Case G in the overpayment relief provisions for petroleum revenue tax, corporation tax and stamp duty land tax.
6.Subsection (5) provides that the amendments will have effect for claims made six months or more after Royal Assent to the Finance Act.