SCHEDULES
SCHEDULE 1Fixed penalties
Discounted amount and period for payment
I17
1
A discounted amount is payable instead of the amount specified in regulations under paragraph 5 if payment is made before the end of the period for payment of the discounted amount.
2
That period is the period of 15 days beginning with the day on which the notice is given, unless the 15th day is not a working day.
3
If the 15th day is not a working day, that period is the period beginning with the day on which the notice is given and ending immediately after the first working day following the 15th day.
4
In this paragraph, “working day” means any day which is not Saturday, Sunday, Christmas Day, Good Friday or a day which is a bank holiday in England and Wales under the Banking and Financial Dealings Act 1971 (c. 80).