Part 3B: inserted, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).
Heading: inserted, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).
(1) This section applies to applications made under section MF 1 of the Income Tax Act 2007.
(2) An application by a person who wants to be paid their tax credit (other than a parental tax credit) by instalment must be made before the selected period starts.
(3) A person who wants to be paid their parental tax credit by instalment must apply no later than 3 months after the date of the dependent child’s birth.
(4) If a person referred to in subsection (3) applies more than 3 months after the date of the dependent child’s birth, the person may receive the parental tax credit only after taking into account their end of year assessment under subpart LA of the Income Tax Act 2007 for the tax year in which the birth occurs.
(5) If the 3-month period described in subsection (3) spans 2 tax years and the whole of the selected period falls in the first tax year, the selected period is treated as falling in the second tax year if all instalments are paid to the person in the second tax year.
Compare: 2004 No 35 s KD 5(1B)–(1C)
Section 80KA: inserted, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).