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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2023 - onwards
  Version 4 of 4    

124A. Preliminary duty: credit and charge cards.

Repealed from 1 January 2023

(1) In this section -

"accountable person" means a bank or promoter within the meaning of section 124;

"base period", in relation to a due date, means the 12 month period ending on 1 April immediately before the due date in respect of which a statement is required to be delivered to the Commissioners under section 124;

"chargeable period", in relation to a due date, means the 12 month period ending on 1 April immediately after the due date commencing with the 12 month period ending on 1 April 2009 and each subsequent 12 month period in respect of which a statement is required to be delivered to the Commissioners under section 124;

"due date" means -

(a) in respect of the 12 month period ending on 1 April 2009, 15 December 2008, and

(b) in respect of each subsequent 12 month period, 15 December in the preceding year;

"preliminary duty", in relation to a chargeable period ending immediately after a due date, means an amount determined by the formula -

A x B

where -

A is an amount eq

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