Paragraph 15D F1

(1)

Any amount owed at the relevant date by the debtor to the Commissioners in respect of—

(a)

value added tax, or

(b)

a relevant deduction.

(2)

In sub-paragraph (1), the reference to “any amount” is subject to any regulations under section 99(1) of the Finance Act 2020.

(3)

For the purposes of sub-paragraph (1)(b) a deduction is “relevant” if—

(a)

the debtor is required, by virtue of an enactment, to make the deduction from a payment made to another person and to pay an amount to the Commissioners on account of the deduction,

(b)

the payment to the Commissioners is credited against any liabilities of the other person, and

(c)

the deduction is of a kind specified in regulations under section 99(3) of the Finance Act 2020.

(4)

In this paragraph “the Commissioners” means the Commissioners for Her Majesty's Revenue and Customs.

Annotations

Textual amendments

F1: Sch. 6 para. 15D and cross-heading inserted (with application in accordance with s. 98(7) of the amending Act) by Finance Act 2020 (c. 14), s. 98(2)

Notes on Schedule 6

Modifications

C1: Sch. 6 applied (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 103, 263(1)(2) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch. para. 2
C2: Sch. 6 applied (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 145, 263(1)(2) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch. para. 3
C3: Sch. 6 applied (with modifications) (8.7.2021) by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), regs. 2, 37, Sch. 1 para. 3 (with reg. 5) (as amended (4.1.2024) by S.I. 2023/1399, regs. 1(2), 4, 11)