{
  "url": "https://openlegislation.uk/finance-no-2-act-2017/schedule-12/paragraph-19",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2017/schedule-12/paragraph-19.json",
  "legislation": "ukpga/2017/32",
  "legislation_title": "Finance (No. 2) Act 2017",
  "legislation_url": "https://openlegislation.uk/finance-no-2-act-2017",
  "path": "schedule/12/paragraph/19",
  "kind": "paragraph",
  "number": "19",
  "heading": null,
  "text": "(1) Paragraph 20(1) applies where—\n(a) section 23E of ITTOIA 2005 would (ignoring paragraph 20) apply in relation to a relevant benefit arising to T,\n(b) the relevant benefit is a loan or quasi-loan in relation to which paragraph 1(2) applies,\n(c) 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(d) T makes a payment (the “accelerated payment”) in respect of the understated or disputed tax to which the notice relates,\n(e) the accelerated payment is made on or before 5 April 2019, and\n(f) 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 14) is equal to or less than the amount of the accelerated payment.\n(2) In sub-paragraph (1)(c), “relevant charge” means a charge to tax under section 23E of ITTOIA 2005 arising by reason of a relevant benefit which arises to T in pursuance of the relevant arrangement in pursuance of which the relevant benefit mentioned in sub-paragraph (1)(a) and (b) arises.\n(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 12 para. 19(1)(e) substituted (22.7.2020) by Finance Act 2020 (c. 14), Sch. 2 para. 21(2)(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 12 para. 19(1)(f) substituted (22.7.2020) by Finance Act 2020 (c. 14), Sch. 2 para. 21(2)(b)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Sch. 12 para. 19(3) omitted (22.7.2020) by virtue of Finance Act 2020 (c. 14), Sch. 2 para. 21(3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2017/32/schedule/12/paragraph/19",
    "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."
}