# Taxes Management Act 1970, Paragraph 9


(1) This paragraph applies where a CT exit charge payment plan is entered into by a company in respect of qualifying corporation tax in accordance with this Schedule.
(2) As regards when the tax is payable—
(a) the plan does not prevent the tax becoming due and payable under section 59D or 59E, but
(b) the Commissioners for Her Majesty's Revenue and Customs—
(i) may not seek payment of the tax otherwise than in accordance with the plan;
(ii) may make repayments in respect of any amount of the tax paid, or any amount paid on account of the tax, before the plan is entered into.
(3) As regards interest—
(a) the tax carries interest in accordance with Part 9 as if the plan had not been entered into, and
(b) each time a payment is made under the plan, it is to be paid together with any interest payable on it.
(4) As regards penalties, the company will be liable to penalties for late payment of the tax only if it fails to make payments in accordance with the plan (see item 6ZA of the Table at the end of paragraph 1 of Schedule 56 to the Finance Act 2009).
(5) Qualifying corporation tax payable in accordance with a CT exit charge payment plan which is for the time being unpaid may be paid at any time before it becomes payable under the plan together with interest payable on it to the date of payment.

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Source: https://www.legislation.gov.uk/ukpga/1970/9/schedule/3ZB/paragraph/9 (the official version)
Page: https://openlegislation.uk/taxes-management-act-1970/schedule-3ZB/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.