(1) A buyer in a land transaction where the whole or part of the chargeable consideration is contingent or uncertain (see sections 19 and 20) may give notice to WRA (“a deferral request”) requesting that payment of an amount of tax payable stated in the first return relating to the transaction (“the requested amount”) be deferred.
(2) But the requested amount may not exceed the deferrable amount (see section 59).
(3) WRA must agree to a deferral request if—
(a) the return and the deferral request are made on or before the filing date for that return,
(b) the request—
(i) specifies the requested amount to be deferred,
(ii) sets out the calculation of the requested amount carried
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