SCHEDULES
SCHEDULE 12Trading income provided through third parties: loans etc outstanding on 5 April 2019
Accelerated payments
20
1
T may make an application to the Commissioners for Her Majesty's Revenue and Customs to be treated—
a
as if the relevant benefit mentioned in paragraph 19(1)(a) and (b) arises only if the condition in sub-paragraph (2) is met, and
b
as if it arises immediately before the end of the 30 days beginning with the date on which the condition in sub-paragraph (2) becomes met.
2
The condition is that, on the withdrawal of the accelerated payment notice or on the determination of an appeal, any part of the accelerated payment is repaid.
3
Subject to sub-paragraph (4), an application under sub-paragraph (1) may be made in 2018.
4
An application may be made after 2018 if an officer of Revenue and Customs considers it reasonable in all the circumstances for a late application to be made.
5
An application must be made in such form and manner, and contain such information, as may be specified by, or on behalf of, the Commissioners for Her Majesty's Revenue and Customs.
6
An officer of Revenue and Customs must notify the applicant of the decision on an application under this paragraph.