Textual Amendments
F1Sch. 3ZAA inserted (with effect in accordance with Sch. 7 para. 7 of the amending Act) by Finance Act 2019 (c. 1), Sch. 7 para. 2
6(1)To enter into a CGT exit charge payment plan, the taxpayer must apply to HMRC.U.K.
(2)An application for a CGT exit charge payment plan must—
(a)be made on or before the date specified in section 59B as the date by which the exit charge is payable, and
(b)contain details of all the matters which are required by this Schedule to be specified in the plan.
(3)A CGT exit charge payment plan is entered into when—
(a)the taxpayer agrees to pay the deferred exit charge, and any interest on it, in accordance with the plan, and
(b)an officer of Revenue and Customs agrees to accept payment of the deferred exit charge in accordance with the plan.
(4)A CGT exit charge payment plan is void if—
(a)an event giving rise to the exit charge is part of arrangements the main purpose of which, or one of the main purposes of which, is to defer the payment by the taxpayer of the exit charge, or
(b)any information furnished by the taxpayer in connection with the plan does not fully and accurately disclose all facts and considerations material to the decision of the officer of Revenue and Customs to accept payment in accordance with the plan.]