Made under the Corporation Tax Act 2010
1 statutory instrument made using powers in the Corporation Tax Act 2010, newest first. Each one is explained section by section in plain English.
The Corporation Tax Act 2010 (Part 8C) (Amendment) Regulations 2025
- Department: HM Treasury
- Made under: Corporation Tax Act 2010
The Treasury amended Part 8C of the Corporation Tax Act 2010 to exclude low-rate simple interest from the 45% restitution interest tax charge and adjusted the assessment time limit for chargeable interest.
These Regulations, enacted by HM Treasury, amend Part 8C of the Corporation Tax Act 2010, which imposes a 45% corporation tax rate on restitution interest paid by HMRC. The amendments primarily serve to exclude simple interest awarded at a rate equivalent to or lower than a statutory rate from this special tax charge and modify the time limit for assessing this tax, allowing assessments to be made later if payments are accounted for before a final determination has been reached.