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Paragraph 22 F1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  • Sch. 4 para. 5 repealed in part by Finance Act 1997 s. 113 Sch. 18 Pt. 2 Notes 1 2
  • Sch. 4 para. 5(a) amended by Finance Act 1997 s. 13(2)15, Sch. 2, Pt. 2, para. 6
  • Sch. 4 para. 5(c) revoked by Finance Act 1997 s. 113 Sch. 18 Pt. 2 Notes 1 2
(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. 4 para. 22 and cross-heading inserted (with application in accordance with s. 98(7) of the amending Act) by Finance Act 2020 (c. 14), s. 98(6)

Notes on Schedule 4

Modifications

C1

Sch. 4 applied (with modifications) (4.1.2024) by S.I. 2021/716, reg. 37A (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 12)