SDLTM50940 - Procedure: Deferring payment in case of contingent or uncertain consideration FA03/S90: Terms of acceptance
If the application to defer the payment of tax is approved:
- the notice of acceptance must set out the terms of acceptance
- specify the amount of tax payable in connection with the initial land transaction return
- the dates of relevant events and
- how tax is to be calculated on those dates.
An application that has been accepted by HM Revenue & Customs shall have no effect if it contains false information or any facts or circumstances relevant to it are not disclosed to HM Revenue & Customs.
An application will cease to have effect if the facts and circumstances relevant to it change.