Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what provision there is for HM Revenue and Customs (HMRC) to set aside an accelerated payment notice when the company subject to that notice is seeking a negotiated settlement with HMRC.

The accelerated payment regime was introduced in Finance Act 2014 to change the underlying economics of tax avoidance by requiring disputed tax to be paid upfront while an avoidance scheme is being challenged. Disputed tax remains due and payable under the accelerated payment regime until such time as the dispute is settled by agreement with HM Revenue and Customs (HMRC) or the dispute is litigated and there is a judicial decision.

Where an accelerated payment has been made, it is repayable if HMRC agrees, or the courts decide, that the scheme in question does produce a tax advantage under the legislation.

Taxpayers can make representations to HMRC about an accelerated payment notice if they believe the conditions for issue have not been met or the amount shown is incorrect. They can also ask the courts to judicially review the issue of an accelerated payment notice.