15(1)This paragraph explains the effect of paragraph 13 as regards late payment interest and late payment penalties.U.K.
(2)The effect is that liability to pay amounts specified in sub-paragraph (3) ceases when the qualifying gift is made, as if the liability had never arisen.
(3)The amounts are—
(a)any late payment interest that accrued on the relevant portion during the negotiation period, and
(b)any late payment penalty to which C became liable in the negotiation period for failing to pay the relevant portion (together with any interest on such a penalty).
(4)“The relevant portion” is the portion of C's tax liability for the relevant accounting period that is treated under paragraph 13 as satisfied.
(5)In determining for the purposes of sub-paragraph (2) whether or to what extent—
(a)late payment interest accruing on an amount of or on account of C's tax liability for the relevant accounting period is attributable to the relevant portion, or
(b)a late payment penalty incurred for failing to pay an amount of or on account of C's tax liability for the relevant accounting period is attributable to the relevant portion,
any attribution or apportionment is to be done in the way that maximises the relief obtained by C by virtue of this paragraph.
(6)“The negotiation period” is the period—
(a)beginning with the offer registration date, and
(b)ending with the day on which the qualifying gift is made.
(7)Nothing in this paragraph affects any late payment interest that accrued, or any late payment penalty to which C became liable, before the offer registration date.