{
  "url": "https://openlegislation.uk/finance-no-2-act-2017/schedule-11/paragraph-23",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2017/schedule-11/paragraph-23.json",
  "legislation": "ukpga/2017/32",
  "legislation_title": "Finance (No. 2) Act 2017",
  "legislation_url": "https://openlegislation.uk/finance-no-2-act-2017",
  "path": "schedule/11/paragraph/23",
  "kind": "paragraph",
  "number": "23",
  "heading": null,
  "text": "(1) Paragraph 24(1) applies where—\n(a) a person (“P”) would (ignoring paragraph 24) be treated as taking a relevant step within paragraph 1 by reason of making a loan, or a quasi-loan, to a relevant person,\n(b) an accelerated payment notice, or a partner payment notice, relating to a relevant charge (the “accelerated payment notice”) has been given under Chapter 3 of Part 4 of FA 2014,\n(c) the relevant person makes a payment (the “accelerated payment”) in respect of the understated or disputed tax to which the notice relates,\n(d) the accelerated payment is made on or before 5 April 2019, and\n(e) the amount of the loan or quasi-loan that, at the end of 5 April 2019, is outstanding for the purposes of paragraph 1 (see paragraphs 3 to 18) is equal to or less than the amount of the accelerated payment.\n(2) In sub-paragraph (1)(b), “relevant charge” means a charge to tax arising by reason of a step taken pursuant to the relevant arrangement concerned.\n(3) The reference in sub-paragraph (2) to the relevant arrangement concerned is a reference to the relevant arrangement in pursuance of which, or in connection with which, the loan or quasi-loan mentioned in sub-paragraph (1)(a) is made.\n(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(5) In sub-paragraphs (1)(c) and (2)—\n(a) the reference to tax includes a reference to relevant contributions, and\n(b) the reference to a charge to tax includes a reference to a liability to pay relevant contributions;\nand for those purposes “relevant contributions” has the same meaning as in Schedule 2 to the National Insurance Contributions Act 2015 (application of Part 4 of FA 2014 to national insurance contributions).\n(6) If more than one notice relating to a particular relevant charge has been given—\n(a) the reference in sub-paragraph (1)(e) to the amount of the accelerated payment is to be treated as a reference to the aggregate of the amounts of each accelerated payment in respect of which the conditions in sub-paragraph (1)(c) and (d) are met, and\n(b) the reference in paragraph 24(2) to the accelerated payment notice is to be treated as a reference to the accelerated payment notices or any of them.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 11 para. 23(1)(d) substituted (22.7.2020) by Finance Act 2020 (c. 14), Sch. 2 para. 12(2)(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 11 para. 23(1)(e) substituted (22.7.2020) by Finance Act 2020 (c. 14), Sch. 2 para. 12(2)(b)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Sch. 11 para. 23(4) omitted (22.7.2020) by virtue of Finance Act 2020 (c. 14), Sch. 2 para. 12(3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2017/32/schedule/11/paragraph/23",
    "retrieved_at": "2026-10-29T09:05:16.335265+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}