SCHEDULES

F1SCHEDULE 3ZCCT Payment plans for tax on certain transactions with EEA residents

Annotations:
Amendments (Textual)
F1

Sch. 3ZC inserted (retrospective and with effect in accordance with Sch. 7 para. 4(1)(a) of the amending Act) by Finance Act 2020 (c. 14), Sch. 7 para. 2

The payment method: all of outstanding balance due

10

1

Where at any time after a CT payment plan is entered into by a company an event mentioned in sub-paragraph (2) occurs the outstanding balance of the deferred tax is due on the date on which the next instalment of that tax would otherwise be due.

2

The events are—

a

the company becoming insolvent or entering administration;

b

the appointment of a liquidator in respect of the company;

c

an event under the law of a country or territory outside the United Kingdom corresponding to an event in paragraph (a) or (b);

d

the company failing to pay any amount of the deferred tax for a period of 12 months after the date on which the amount becomes due;

e

the company ceasing to be within the charge to corporation tax.