This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
(This note is not part of the Regulations)
These Regulations amend the Income Tax (Digital Requirements) Regulations 2021 (“the principal Regulations”) which make provision for digital reporting and record keeping in relation to income tax.
Regulations 1 and 2 are introductory.
Regulation 3 amends the date that the principal Regulations come into force.
Regulation 4 amends regulation 2 to make consequential amendments to definitions and omit definitions which are not needed in consequence of amendments made to the principal Regulations.
Regulation 5 amends regulation 3 to make consequential amendments in relation to the provisions relating to the use of functional compatible software and impose a requirement to use functional compatible software when correcting digital records.
Regulation 6 amends regulation 4 to postpone the digital start date for businesses (this is the date from when a relevant person must keep digital records for a business), make provision for a notice by the Commissioners of His Majesty’s Revenue and Customs and amend the digital start date for new businesses.
Regulation 7 makes consequential amendments to regulation 5.
Regulation 8 amends regulation 6 to amend the meaning of “digital records” and make provision for a notice to be made by the Commissioners of His Majesty’s Revenue and Customs in relation to retail sales.
Regulation 9 amends regulation 7 in relation to a quarterly update to amend the timing of the updates, length of the period, terminology and date when a calendar quarters election can be made.
Regulation 10 amends regulation 8 to omit an otiose provision and makes a consequential amendment in relation update notices.
Regulation 11 amends regulation 9 to make consequential amendments and amends the timing of update notices where a business ceases.
Regulations 12 and 13 make consequential amendments.
Regulation 14 omits Part 4 which contains the provisions in relation to end of period statements.
Regulation 15 omits Part 5 which contains provisions in relation to retail sales.
Regulations 16 to 18 make consequential amendments.
Regulation 19 amends regulation 21 to remove the election not to be exempt, increase threshold amounts and provide that in determining qualifying income qualifying care receipts are excluded, deductions are taken into account unless not required to be included in a tax return and amendments to a tax return which would increase qualifying income are not taken into account.
Regulation 20 makes consequential amendments.
Regulation 21 omits regulation 23 which relates to the election not to be exempt under regulation 21.
Regulation 22 inserts a new regulations 26A and 26B to provide exemptions for qualifying care income and where a person has no national insurance number.
Regulation 23 omits Part 9 which provides for an election in relation to excluded activities under Schedule A1 of the Taxes Management Act 1970.
Regulation 24 makes a consequential amendment to regulation 28.
A Tax Information and Impact Note covering this instrument will be published on the website at http://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
