Taxes Management Act 1970 section 12

All of outstanding balance due

Section 12 of Schedule 3ZB sets out the circumstances in which the entire outstanding balance of ECPP tax becomes payable immediately, rather than continuing under the instalment arrangement.

• The full outstanding ECPP tax balance is accelerated if certain trigger events occur
• Trigger events include insolvency, administration, or the appointment of a liquidator
• The balance also falls due if the company leaves the relevant EEA without moving to another relevant EEA state, or if equivalent insolvency events occur overseas
• A failure to pay any amount of ECPP tax for 12 months after its due date also triggers the full balance becoming payable