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Finance Act 2012
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- UK Public General Acts
- 2012 c. 14
- SCHEDULE 14
- PART 2
- Gifts set aside etc
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Gifts set aside etcU.K.
8U.K.If a qualifying gift is set aside or declared void after it is made—
(a)the portion of N's tax liability for each relevant tax year that is treated as satisfied ceases to be treated as satisfied,
(b)the effect described in paragraph 6 is negated, and
(c)N is required to pay the portion due for each relevant tax year, together with any late payment interest and late payment penalties in respect of it, by the later of—
(i)the end of the period of 30 days beginning with the day on which the gift was set aside or declared void, and
(ii)the day by which N would have been required to pay those amounts but for this Schedule.
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