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The Income Tax (Construction Industry Scheme) (Amendment) Regulations 2015

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Amendment of the Income Tax (Construction Industry Scheme) Regulations 2005

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2.—(1) The Income Tax (Construction Industry Scheme) Regulations 2005(1) are amended as follows.

(2) In regulation 4 (monthly return)(2) omit paragraphs (10) and (11).

(3) At the end of regulation 56(5) (application of sums deducted under section 61)(3) insert—

but this paragraph does not apply to a qualifying sub-contractor within paragraph (5A).

(5A) A qualifying sub-contractor is within this paragraph if—

(a)that sub-contractor is subject to a winding-up under Part 4 of the Insolvency Act 1986(4), and

(b)that sub-contractor has—

(i)ceased trading,

(ii)permanently ceased making payments to which section 61 of the Act(5) applies in its capacity as a contractor, or

(iii)ceased trading and permanently ceased to make any payments within sub-paragraph (b)(ii).

(5B) Where a qualifying sub-contractor is within paragraph (5A), the Commissioners for Her Majesty’s Revenue and Customs may repay any sum deducted under section 61 of the Act to that sub-contractor during the tax year in which the deduction was made..

(1)

.S.I. 2005/2045 (the principal Regulations) relevant amending instruments are S.I. 2011/2391 and 2013/620.

(2)

Regulation 4 has been amended by article 3 of S.I. 2011/2391.

(3)

Regulation 56(5) has been amended by regulation 4 of S.I. 2013/620.

(5)

“The Act” is defined in regulation 2 of the principal Regulations as meaning the Finance Act 2004.

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