Section HM 45 — Income Tax Act 2007: Voluntary payments

HM 45 Voluntary payments When this section applies (1) This section applies when a multi-rate PIE pays an amount of tax under section HM 42 or HM 43 . Voluntary payment (2) The PIE may pay an amount of income tax to the Commissioner that represents an amount of its tax liability for the investor as a member of an investor class for the tax year. Time of payment (3) The payment must be made— (a) within 1 month after, as applicable,— (i) for calculation and payment of tax under the quarterly calculation option, the end of the quarter; or (ii) for the calculation and payment of tax under the exit calculation option, the month in which the tax liability for the investor referred to in subsection (2) is calculated; or (b) if the month is November, by the following 15 January. Defined in this Act: amount , Commissioner , income tax , investor , investor class , investor interest , multi-rate PIE , pay , PIE , quarter , tax year Compare: 2007 No 97 s HL 25 Section HM 45: inserted, on 1 April 2010 (applying for the 2010–11 and later income years), by section 292(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section HM 45(1): amended, on 29 August 2011, by section 75(1) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section HM 45(3)(a)(ii): amended, on 29 August 2011, by section 75(2) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section HM 45 list of defined terms tax year : added, on 29 August 2011, by section 75(3) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63).