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Order denying deductions for interest on late paid NICs and CIS payments made
Practical Law UK Legal Update 7-568-5653 (Approx. 3 pages)
Order denying deductions for interest on late paid NICs and CIS payments made
The order ensuring that interest on late payments of Class 1 NICs and late Construction Industry Scheme payments is not deductible in computing taxable profits or losses was made on 19 May 2014. The order also ensures that the interest provisions in the Finance Act 2009 apply when liability for a company's NICs is transferred to its directors.
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Resource ID 7-568-5653© 2024 Thomson Reuters. All rights reserved.
Published on 20-May-2014
Resource Type Legal update: archive
Jurisdiction
Related Content- United Kingdom