Finance Act, 1986

Amendment of section 30 (appeals against assessments and payments on account) of Finance Act, 1976.

49.Section 30 of the Finance Act, 1976 , is hereby amended by the substitution, in subsection (1), of the following definition for the definition of “the appropriate amount” (inserted by the Finance Act, 1984 ):

“‘the appropriate amount’ means—

(a) in the case of an assessment to income tax (other than an assessment to an amount representing income tax for the purposes of section 31 (1) (a) of the Corporation Tax Act, 1976 ) for the year 1984-85 or 1985-86, 85 per cent. of the amount of tax found to be chargeable by the assessment on the determination of the appeal,

(b) in the case of—

(i) an assessment to income tax or capital gains tax for the year 1986-87 or any subsequent year of assessment, or

(ii) an assessment to corporation tax for an accounting period ending on or after the 6th day of April, 1986,

90 per cent. of the amount of the tax found to be chargeable by the assessment on the determination of the appeal, and

(c) in the case of any other assessment to tax, 80 per cent. of the amount of tax found to be chargeable by the assessment on the determination of the appeal;”.