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of <h1>Clause imposes 1% monthly simple interest from April for unpaid or underpaid advance tax; cross-reference change alters tax credit base</h1> Clause requires simple interest at 1% per month (or part) from 1 April after the tax year where advance tax is unpaid or below 90% of assessed tax, with interest computed on assessed tax or the shortfall and adjusted for reassessments, recomputations and payments. Most differences between the Act and the Bill are drafting only, but a substantive change alters the cross-reference defining which tax credits reduce 'assessed tax', affecting the base for interest and potential exposure. Other wording changes are sequencing or form-phrasing variations with negligible practical impact.
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