Section 97ZF — Finance Act 2014: Repayment of surplus amounts

Repayment of surplus amounts 97ZF 1 This regulation applies if—

a one or more personal liability notices are served in respect of an amount of relevant PAYE debt of a company, and b the amounts paid to HMRC (whether by directors upon whom notices are served or the company) exceed the aggregate of the specified amount and any interest on it under regulation 97ZB(2)(b)(ii).

2 HMRC is to repay the difference on a just and equitable basis and without unreasonable delay.

3 HMRC is to pay interest on any sum repaid.

4 The interest—

a is to be at the rate applicable under section 178 of the Finance Act 1989 for the purposes of section 824 of ICTA , and b is to run from the date the amounts paid to HMRC come to exceed the aggregate mentioned in subsection (1)(b).