Payment date for tax assessed under Section 703

Payment date for tax assessed under Section 703

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It was my understanding that, in the event the Revenue raised a Section 703 assessment in respect of a transaction, that the tax was due 30 days after the date of the assessment.

I have just had a conversation with an individual at the Anti-Avoidance Group who tells me that, following a recent ruling, the interest runs from the date on which the income tax would have been due (i.e 31 January following the year of assessment).

Can anyone direct me to a case or SpC decision or is this another case the Revenue deciding how it woudl like to treat it and calling that a "ruling"?
Simon Denton

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