CHAPTER ELEVEN ......................................................................................................... 149 THE DUE DATE FOR PAYMENT .................................................................................. 149 Executive Summary ....................................................................................................... 149 1 Introduction ........................................................................................................... 150 2 Actual Tax Payment .............................................................................................. 150 3 Reduction or Loss of a Deferred Tax Relief ........................................................... 150 4 Loss or Reduction of Accounts Relief .................................................................... 151 5 Use of Post Completion Relief or Buyer’s Relief .................................................... 152 6 Costs and Expenses.............................................................................................. 153 7 Effect of not Meeting Above Conditions ................................................................. 153 CHAPTER TWELVE ......................................................................................................... 155 DEDUCTIONS FROM PAYMENTS ............................................................................... 155 Executive Summary ....................................................................................................... 155 1 Introduction ........................................................................................................... 156 2 If Payments are Subject to Taxation ...................................................................... 156 3 Buyer has Obligation to Recover in Respect of Deductions ................................... 157 4 Refunds of Withholdings or Deductions ................................................................. 157 CHAPTER THIRTEEN ...................................................................................................... 158 CLAIMS ............................................................................................................. 158 Executive Summary ....................................................................................................... 158 1 Introduction ........................................................................................................... 159 2 Action to be Taken................................................................................................. 159 3 Ability of Buyer to Deal with a Tax Claim in Certain Circumstances ...................... 160 4 Pointless Actions ................................................................................................... 161 5 Access ............................................................................................................... 161 CHAPTER FOURTEEN .................................................................................................... 163 RECOVERIES FROM THIRD PARTIES ........................................................................ 163 1 Introduction ........................................................................................................... 164 2 Duty to Notify and to Take Reasonable Steps ....................................................... 165 3 Repayment to Covenantors ................................................................................... 165 4 Carry-Back and Carry Forward of Recovery .......................................................... 167 CORRESPONDING SAVINGS ...................................................................................... 169 Executive Summary ....................................................................................................... 169 1 Introduction ........................................................................................................... 170 2 Understatement..................................................................................................... 171 3 Sellers Relief ......................................................................................................... 171 4 Corresponding Savings ......................................................................................... 172 5 The Use of Such Offsets ....................................................................................... 174 6 The Carry-Back and Carry Forwards ..................................................................... 174 7 Requirement to Notify............................................................................................ 174 CHAPTER FIFTEEN ......................................................................................................... 169 OVERPROVISIONS, UNDERSTATEMENTS, SELLERS’ RELIEF AND
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