# Finance (No. 2) Act 2017, Paragraph 23

Extent: E+W+S+N.I.

(1) Paragraph 24(1) applies where—
(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,
(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,
(c) the relevant person makes a payment (the “accelerated payment”) in respect of the understated or disputed tax to which the notice relates,
(d) the accelerated payment is made on or before 5 April 2019, and
(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.
(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.
(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.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) In sub-paragraphs (1)(c) and (2)—
(a) the reference to tax includes a reference to relevant contributions, and
(b) the reference to a charge to tax includes a reference to a liability to pay relevant contributions;
and 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).
(6) If more than one notice relating to a particular relevant charge has been given—
(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
(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.

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Source: https://www.legislation.gov.uk/ukpga/2017/32/schedule/11/paragraph/23 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2017/schedule-11/paragraph-23
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.