Print Options
PrintThe Whole
Act
PrintThe Whole
Schedule
PrintThis
Section
only
Status:
This is the original version (as it was originally enacted).
Discounted amount and period for payment
This section has no associated Explanatory Notes
7(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).
Back to top