PART 4Returns and payment

CHAPTER 2Payment of tax

I141Application to defer payment in case of contingent or uncertain consideration

1

The buyer may apply to the Tax Authority to defer payment of tax in a case where—

a

the amount of tax payable depends on the amount or value of chargeable consideration that, at the effective date of the transaction, is contingent or uncertain, and

b

the chargeable consideration falls to be paid or provided on one or more future dates of which at least one falls, or may fall, more than 6 months after the effective date of the transaction.

F12

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3

An application under this section does not affect the buyer's obligations as regards payment of tax in respect of chargeable consideration that—

a

has already been paid or provided at the time the application is made, or

b

is not contingent and whose amount is ascertained or ascertainable at the time the application is made.

4

Subsection (3) applies as regards both the time of payment and the calculation of the amount payable.

5

Unless the Scottish Ministers provide otherwise by order, this section does not apply to consideration so far as it consists of rent.