Taxes Consolidation Act, 1997

Provisions as to tax under section 239 .

[CTA76 s152; FA78 s46(1)(f), (2) and (3); FA81 s22; FA90 s50; FA97 s146(2) and Sch9 PtII]

240.—(1) Subsections (2) to (4) shall apply only in respect of a company to which section 239 (10) relates.

(2) The provisions of the Income Tax Acts relating to—

(a) persons who are to be chargeable to income tax,

(b) income tax assessments,

(c) appeals against such assessments (including the rehearing of appeals and the statement of a case for the opinion of the High Court), and

(d) the collection and recovery of income tax,

shall, in so far as they are applicable, apply to the charge, assessment, collection and recovery of income tax under section 239 .

(3) (a) Any tax payable in accordance with section 239 without the making of an assessment shall carry interest at the rate of 1.25 per cent for each month or part of a month from the date when the tax becomes due and payable until payment.

(b) Subsections (2) to (4) of section 1080 shall apply in relation to interest payable under this subsection as they apply in relation to interest payable under section 1080 .

(4) In its application to any tax charged by an assessment to income tax in accordance with section 239 , section 1080 shall apply as if subsection (1)(b) of that section were deleted.

(5) Section 1081 (1) shall not apply where by virtue of section 438 (4) there is any discharge or repayment of tax assessed under section 239 .