PART 4Returns and payment
CHAPTER 2Payment of tax
42Regulations about applications under section 41
1
The Scottish Ministers may, by regulations, make further provision about applications under section 41.
2
The regulations may in particular—
a
specify when an application is to be made,
b
require the buyer to provide such information as the Tax Authority may reasonably require for the purposes of determining whether to accept an application,
c
specify the grounds on which an application may be refused,
d
specify the procedure for reaching a decision on the application,
e
make provision for postponing payment of tax when an application has been made,
f
provide for the effect of accepting an application,
g
require the buyer to make a return or further return, and to make such payments or further payments of tax as may be specified, in such circumstances as may be specified.
3
Regulations under this section may also provide that where the circumstances in subsection (4) arise—
a
sections 31 and 32 (adjustment where contingency ceases or consideration is ascertained) do not apply in relation to the payment, and
b
instead, any necessary adjustment is to be made in accordance with the regulations.
4
The circumstances are—
a
a payment is made as mentioned in section 41(3), and
b
an application under this section is accepted in respect of other chargeable consideration taken into account in calculating the amount of that payment.