SCHEDULES

SCHEDULE 32Accelerated payments and partnerships

7Penalty for failure to comply with partner payment notice

Section 226 (penalty for failure to make accelerated payment on time) applies to accelerated partner payments as if—

a

references in that section to the accelerated payment were to the accelerated partner payment,

b

references to P were to the relevant partner, and

c

“the payment period” had the meaning given by paragraph 6(5).