Taxes Consolidation Act 1997 section 927

Rectification of excessive set-off, etc of tax credit

Section 927 provides for the recovery by assessment of incorrect or excessive tax credit payments. This section was deleted by Finance Act 2012, section 129(2).

• Where an inspector discovers that an incorrect or excessive tax credit has been paid, the inspector may raise an assessment to recover the overpayment.
• The standard assessment, collection and appeal procedures apply to such a recovery assessment.
• The assessment is treated as though it were an income tax assessment for the relevant year of assessment or, for a company, a corporation tax assessment for the relevant accounting period.
• Once the assessment is not appealed, the amount charged becomes due within 14 days of the date of the notice of assessment.