Finance (Local Property Tax) Act 2012
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Meaning of deferral. |
131.— (1) Where a valid claim for deferral is made— | |
(a) the local property tax in respect of which deferral is claimed will be treated as not being payable until the occurrence of a relevant event in accordance with section 139 , | ||
(b) interest shall be charged on the deferred amount from the due date for payment of that amount until such time as it is paid at the daily rate of 0.011 per cent (referred to in this Part as “deferral interest”), and | ||
(c) any reference to the deferred amount in this Part shall include the accrued deferral interest referred to in paragraph (b). | ||
(2) A claim for deferral shall be valid if the conditions referred to in section 132 or, as the case may be, that section and section 133 are met. | ||
(3) A claim for deferral— | ||
(a) shall be made in writing, and | ||
(b) where a return is required to be delivered in relation to the liability date in respect of which deferral is claimed, the claim must be made in the return. |