[F1Payment of the specified amountU.K.
29F.—(1) If a transfer notice is served, the transferee must pay the specified amount to HM Revenue and Customs at the address specified in the transfer notice.
(2) The transferee must pay the specified amount within 30 days beginning with the date on which the transfer notice is served (the “specified period”).
(3) If a transfer notice is served on a person mentioned in paragraph (a) or (b) of section 688A(2), or on a paragraph (b) associate, the specified amount carries interest from the reckonable date until the date on which payment is made.
(4) If a transfer notice is served on a person mentioned in paragraph (c) of section 688A(2), or on a paragraph (c) associate, the specified amount carries interest from the day following the expiry of the specified period until the date on which payment is made.
[F2(5) For the purposes of sub-paragraph (3) “the reckonable date” has the meaning given by paragraph 17(3)(b)(i).]]
Textual Amendments
F1Sch. 4 Pt. 3A inserted (6.8.2007) by The Social Security (Contributions) (Amendment No. 5) Regulations 2007 (S.I. 2007/2068), regs. 1, 2
F2Sch. 4 para. 29F(5) inserted (1.4.2009) (with effect in accordance with reg. 1(2)(a) of the amending S.I.) by The Social Security (Contributions) (Amendment No. 3) Regulations 2009 (S.I. 2009/600), regs. 1(1), 8(7)