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Finance Act 2012

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Suspension pending negotiationsE+W+S+N.I.

9(1)An individual who makes an offer in the circumstances described in paragraph 1 (a “potential donor”) may make a request under this paragraph if—E+W+S+N.I.

(a)the offer is registered in accordance with the scheme,

(b)the offer includes a proposal (“the donor proposal”) of what should be in the agreed terms,

(c)the potential donor will be required to pay an amount of or on account of tax for a relevant tax year by a certain date, and

(d)the negotiations are not expected to conclude before that date (referred to as “the due date”).

(2)For the purposes of this paragraph, the negotiations “conclude” when—

(a)a qualifying gift is made pursuant to the offer,

(b)the offer is withdrawn by the potential donor, or

(c)the offer is rejected.

(3)A request under this paragraph is a request that the potential donor's obligation to pay the amount by the due date be suspended until the negotiations conclude.

(4)But the running total of amounts for which suspension may be requested under this paragraph in respect of the same offer and the same relevant tax year must not exceed the proposed tax reduction figure for that tax year.

(5)“The proposed tax reduction figure” for a tax year is the amount shown in the donor proposal as the proposed tax reduction figure for that year.

(6)A request under this paragraph—

(a)must be made in writing to HMRC at least 45 days before the due date, and

(b)must be accompanied by a copy of the donor proposal and such other information as an officer of Revenue and Customs may reasonably require.

(7)In considering whether or to what extent to agree to a request, HMRC must have regard to all the circumstances of the case (including, for example, the creditworthiness of the potential donor).

(8)HMRC may impose conditions with respect to the suspension.

10(1)Suspension under paragraph 9 of a potential donor's obligation to pay an amount of or on account of tax stops the donor from becoming liable to late payment penalties for or in connection with the failure to pay that amount by the due date.E+W+S+N.I.

(2)But it does not stop late payment interest from accruing on that amount from the due date.

(3)HMRC may by notice in writing to the potential donor withdraw its agreement to the suspension with effect from such date, before conclusion of the negotiations, as may be specified in the notice.

(4)If it does so, the potential donor must pay the amount, together with any late payment interest that has accrued on it since the due date, by the end of the period of 30 days beginning with the date specified in the notice.

(5)The last day of that 30-day period is to be treated for the purposes of any enactment relating to late payment penalties as the date on or before which the amount must be paid.

(6)Paragraph 11 explains what happens once the negotiations conclude (depending on the outcome of the negotiations).

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