Explanatory note

Section 139(1) of the Finance Act 1995 (“the 1995 Act”) amends section 559(4) (adding the additional subsection (4A)) of the Income and Corporation Taxes Act 1988 (“the Taxes Act”) relating to the rate of income tax or corporation tax to be deducted from payments to certain sub-contractors in the construction industry. The amendments have effect on or after such day as the Treasury may by order made under section 139(3) of the 1995 Act appoint, and different days may be appointed for different purposes.

This Order brings into force on 6th April 2000 the amendments made by section 139(1) of the 1995 Act.