# Finance (No. 2) Act 2017, Paragraph 19

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

(1) Paragraph 20(1) applies where—
(a) section 23E of ITTOIA 2005 would (ignoring paragraph 20) apply in relation to a relevant benefit arising to T,
(b) the relevant benefit is a loan or quasi-loan in relation to which paragraph 1(2) applies,
(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,
(d) T makes a payment (the “accelerated payment”) in respect of the understated or disputed tax to which the notice relates,
(e) the accelerated payment is made on or before 5 April 2019, and
(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.
(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.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

---
Source: https://www.legislation.gov.uk/ukpga/2017/32/schedule/12/paragraph/19 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2017/schedule-12/paragraph-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.