Revenue Note for Guidance
This section applies certain provisions of the Income Tax Acts to the charge, assessment, collection and recovery of income tax under section 239(10) (that is, in the unusual case of a payment made under deduction of tax at a time which is not in an accounting period of a company).
(1) Apart from subsection (5), this section only applies in a situation where income tax is due under section 239(10).
(2) The provisions of the Income Tax Acts providing for the charging, assessing and collection of income tax are applied for the purposes of the income tax to which the section applies.
(3)(a) Any income tax payable under section 239(10) (without the making of an assessment) shall, for any day or part of a day from the date when it becomes due until payment, carry interest as follows:
(4) Where income tax assessed under section 239(10) is not paid on the due date it will not be possible to avoid an interest charge, that is, section 1080(1)(a) will apply to charge interest in accordance with section 1080(1)(c) for each day or part of a day from the date when the tax became due until payment.
(5) Where a loan is made by a close company to a participator, the loan is treated (under section 438) as a net annual payment after deduction of income tax at the standard rate for which tax the company must account to Revenue. If, after the company is assessed to that tax under section 239, the participator repays the loan, the company is entitled to a repayment of the tax. However, the company is not entitled to be repaid any interest it may have paid on that tax.
(6) A person aggrieved by an assessment made under this section may appeal the assessment by notice in writing to the Appeal Commissioners. An appeal must be made within 30 days after the date of the notice of assessment. The Appeal Commissioners will hear and determine an appeal in the manner provided for in Part 40A of the Act.
A person may not appeal if they have not filed a self assessed return and paid the amount due in accordance with their own self assessment (where the person is required to file a return).
Relevant Date: Finance Act 2017