Finance Act, 2002
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Interest on late payment. |
74.—(1) Where any amount of betting duty becomes payable under section 67 and is not paid, simple interest on the amount shall be paid by the person liable to pay the duty and such interest shall be calculated from the date on which the amount became payable at a rate of 0.0322 per cent for each day or part of a day during which the amount remains unpaid. | |
(2) Subsection (1) shall apply— | ||
(a) to duty recoverable by virtue of a notice under section 72 of this Chapter as if the duty were duty which the person was liable to pay for the respective month or period or months or periods specified in the notice, and | ||
(b) to duty recoverable by virtue of a notice under section 73 as if (whether a notice of appeal under that section is received or not) the duty were duty which the person was liable to pay for the month or period or months or periods specified in the notice. |