The Tobacco Products Regulations 2001

Deferred payment—approval of arrangements

18.—(1) Before electing to make deferred payment of duty the person liable to pay the duty must—

(a) make application to the Commissioners for approval of the arrangements by which the duty is to be paid on payment day, and

(b) give to the Commissioners such security for payment by him of any amount of duty becoming payable as the Commissioners may from time to time require.

(2) Where the Commissioners are satisfied with those arrangements and the security offered they must approve them in writing.

(3) A person whose arrangements have been approved must notify the Commissioners forthwith of any change in any information given to them for the purpose of approving those arrangements.

(4) If any security given under this regulation at any time falls short of that required by the Commissioners the right to defer payment under regulation 17 above does not apply in respect of the unsecured duty.

(5) The Commissioners may for reasonable cause vary or revoke any approval granted under this regulation.