Taxes Consolidation Act 1997 Schedule 2, paragraph 20

Assessments, collection and recovery

Schedule 2, paragraph 20 confirms that the standard income tax rules on assessments, collection and recovery apply to encashment tax arising under Schedule C.

• The general Income Tax Acts provisions on assessments apply to encashment tax under Schedule 2.
• The rules governing the collection and recovery of income tax equally apply to encashment tax.
• These provisions apply only in so far as they are applicable to the Schedule 2 context.
• This ensures encashment tax is administered using the same established machinery as ordinary income tax.