Revenue Note for Guidance
This section provides for interest to be charged on underpaid residential zoned land tax.
(1) This section provides that interest applies at a rate of 0.0219 per cent per day from the date on which the tax becomes due and payable until payment is made.
(2) This section provides that subsections (3) to (5) of section 1080, which relate to interest on overdue tax, apply to residential zoned land tax as they apply to income tax, corporation tax and capital gains tax.
Relevant Date: Finance Act 2021