95Payment by cheque
(1)The Commissioners may make regulations providing for a payment to HMRC made by cheque to be treated as made when the cheque clears, as defined in the regulations.
(2)Section 70A of TMA 1970 (payment by cheque treated as made on receipt by HMRC) is subject to regulations under subsection (1).
(3)Regulations under subsection (1)—
(a)may make provision generally or only for specified purposes,
(b)may make different provision for different purposes, and
(c)may include incidental, consequential or transitional provision.
(4)Regulations under subsection (1)—
(a)shall be made by statutory instrument, and
(b)shall be subject to annulment in pursuance of a resolution of the House of Commons.
(5)In this section—
(a)“the Commissioners” means the Commissioners for Her Majesty’s Revenue and Customs, and
(b)“HMRC” means Her Majesty’s Revenue and Customs.
(6)In section 204 of FA 2003 (electronic payment), insert at the end—
“(13)Regulations under section 95(1) of the Finance Act 2007 (payment by cheque) may, in particular, provide for a payment which is made by cheque in contravention of regulations under this section to be treated as made when the cheque clears, as defined in the regulations under that section.”
(7)In section 70A of TMA 1970 (payments by cheque), insert at the end—
“(3)This section is subject to regulations under section 95(1) of the Finance Act 2007 (payment by cheque).”
(8)In VATA 1994, after section 58A insert—
“58BPayment by cheque
Regulations under section 95(1) of the Finance Act 2007 (payment by cheque) may, in particular, provide for a payment which is made by cheque in contravention of regulations under section 25(1) above to be treated as made when the cheque clears, as defined in the regulations under section 95(1) of that Act.”