Regulation 13 Payment of MGD by an RPI1
United Kingdom
Unless paragraph (7) applies, an RP must pay to the Commissioners the MGD due in respect of an accounting period not later than the thirtieth day following the end of that period.
Payment must be made—
in a prescribed manner; or
by such other method as the Commissioners may approve in writing in an individual case.
If the thirtieth day following the end of an accounting period is not a business day, the MGD must be paid by the last business day before that day.
The date that a payment is treated as made for the purposes of this Part is when it is received by the Commissioners.
A payment must not be treated as having been made by the day on which it is required to be made unless it is made in such a manner as secures that all the transactions can be completed that need to be completed before the whole of the amount becomes available to the Commissioners.
For the purposes of these Regulations references to a payment being made by any day include references to its being made on that day.
Where the method of payment involves the collection of the MGD due to the Commissioners by means of Direct Debit—
the RP must ensure that there are sufficient funds in the account to satisfy the payment at the time when it is due to be collected; and
the Commissioners may prescribe the date when the payment is to be collected from the account.