Introduction Summary
1.Section 108 provides that taxpayers who enter into agreements with HM Revenue & Customs (HMRC) to defer payment of taxes are not liable to certain surcharges or penalties that would otherwise be due because of late payment. The section includes a power to impose the surcharge or penalty if the taxpayer does not keep to the terms of the agreement. The change becomes effective for deferral agreements reached on or after 24 November 2008.