Taxes Consolidation Act 1997 section 240

Provisions as to tax under section 239

Section 240 supplements section 239 by applying standard income tax rules for assessments, collections, interest on late payments, and appeals in respect of income tax on annual payments made outside a company's accounting period.

• The standard Income Tax Acts provisions for charging, assessing, collecting and recovering income tax apply to tax due under section 239(10), which covers the unusual situation where a payment is made under deduction of tax at a time outside a company's accounting period.
• Where income tax payable under section 239 remains unpaid, interest is charged daily at a rate of 0.0274% (for periods from 1 July 2009 onwards); this interest is treated as a debt to the Revenue Commissioners, is not deductible in computing profits, and no income tax need be withheld from it.
• Double charging of interest is prevented: where tax is assessed under section 239, section 1080 applies so that interest runs from the due date until payment, but the usual exclusion in section 1080(2)(b) does not apply, ensuring interest is always chargeable on late-paid tax.
• A person aggrieved by an assessment under section 239 may appeal to the Appeal Commissioners within 30 days of the assessment notice, but no appeal may be made until the person has filed the required return and paid the tax due on foot of that return.