Finance Act, 1999
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Amendment of section 41 (payment of tax and interest on tax) of Principal Act. |
202.—(1) Section 41 of the Principal Act is hereby amended by the insertion of the following subsection after subsection (2): | |
“(2A) Notwithstanding the provisions of subsection (2), interest shall not be payable upon the tax— | ||
(a) to the extent to which section 19(5)(a) applies, for the duration of the period from the valuation date to the date the agricultural value ceases to be applicable, | ||
(b) to the extent to which section 55(4) applies, for the duration of the period from the valuation date to the date the exemption ceases to apply, | ||
(c) to the extent to which section 135 (2) of the Finance Act, 1994 , applies, for the duration of the period from the valuation date to the date the reduction which would otherwise fall to be made under section 126 of that Act ceases to be applicable, | ||
(d) to the extent to which section 166 (6) of the Finance Act, 1995 , applies, for the duration of the period from the valuation date to the date the exemption ceases to apply.”. | ||
(2) This section shall have effect where the event which causes the exemption or reduction in question to cease to be applicable occurs on or after the 11th day of February, 1999. |