531AAM Interest on overdue defective concrete products levy

Summary

This section provides for interest to be charged on underpaid defective concrete products levy.

Details

A rate of interest of 0.0219 per cent is charged for each day or part of a day that a defective concrete products levy amount remains unpaid, and on any amount payable under sections 531AAJA(7)(b) and 531AAJB(5)(ii).

Subsection (3) to (5) of section 1080, which relates to interest on overdue tax, apply to defective concrete products levy as they apply to income tax, corporation tax and capital gains tax.

Relevant Date: Finance Act 2024