Taxes Consolidation Act 1997 section 531AC

Credit for income tax paid

Section 531AC provides that a relevant individual may claim a credit for income tax paid against the domicile levy chargeable for the same tax year.

• An individual who is liable to the domicile levy may take a credit for income tax against that levy for the same tax year.
• The credit is limited to the amount of income tax that has actually been paid — an unpaid liability does not qualify.
• The income tax must have been paid at the same time as, or before, the domicile levy for that year is paid.
• The effect is to reduce the domicile levy payable, but not below zero — the credit cannot generate a repayment.