Regulation 25 Non-cash paymentsI1

A levying authority may, subject to the conditions set out in paragraph (2), accept an amount ( “discounted amount”) in such cases as they may determine and in satisfaction of any liability of a person to pay to them any instalment or other payment on account due under a notice given under this Part, being an amount determined by the authority and less than the amount of the instalment or other payment due.

The conditions are that—

Subject to paragraph (5), a determination under paragraph (1) may be revoked at any time, and if revoked may (but only on or before the day mentioned in sub-paragraph (b) of paragraph (2)) be replaced by a fresh determination.

For the purpose of determining whether an adjustment of any amount paid (whether by way of repayment, crediting or otherwise) falls to be made under this Part where a discounted amount has been accepted, the instalment or other payment by reference to which the discounted amount was accepted shall be treated as having been paid in full; but any amount to be repaid or credited against any subsequent liability in any case shall, insofar as it is attributable to such an instalment or other payment, be reduced in accordance with the proportion determined under sub-paragraph (b) of paragraph (2) in respect of that case.

Paragraph (4), and the power to revoke under paragraph (3), have effect in any case subject to any agreement to the contrary between the levying authority and the person liable to pay the instalment or other payment concerned.