Explanatory note

These Regulations amend the Income Tax (Sub-contractors in the Construction Industry) Regulations 1993 (S.I. 1993/743: “the principal Regulations) to provide for electronic payments.

Regulation 1 provides for citation and commencement.

Regulation 2 introduces the amendments to the principal Regulations.

Regulation 3 amends the definitions in regulation 2(1) of the principal Regulations.

Regulations 4 and 5 amend regulations 8 and 9 of the principal Regulations respectively to provide for a later due date for electronic payments.

Regulation 6 amends regulations 12(1) and 13(1) of the principal Regulations to provide for a later date for the issue by the collector of a notice where the contractor has failed to pay amounts deducted to the collector.

Regulation 7 amends regulation 16 of the principal Regulations to provide for a later date from which interest runs on unpaid amounts where payment is made by an approved method of electronic communications.

Regulation 8 inserts a new Part in the principal Regulations to mirror, in relation to the collection of amounts deducted under section 559 of the Income and Corporation Taxes Act 1988 (c. 1), requirements for electronic payments in respect of income subject to PAYE recovery contained in Chapter 4 of Part 10 of the Income Tax (Pay As You Earn) Regulations 2003 (S.I. 2003/2682).