Revenue Note for Guidance

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Revenue Note for Guidance

529H Interest on late payment of appropriate tax


This section provides that interest shall be payable to the Collector-General on overdue tax.


(1) Section 529H specifies that interest is payable by the qualifying company to the Collector-General on overdue payments. This section sets out that the interest due will be calculated on a daily basis at the rate set out in section 1080.

(2) It also provides that subsections 3 to 5 of section 1080 shall apply to the interest payable under this subsection.

Relevant Date: Finance Act 2021