The Income Tax (Construction Industry Scheme) (Amendment No. 2) Regulations 2008
Made
12th May 2008
Laid before the House of Commons
13th May 2008
Coming into force
3rd June 2008
The Commissioners for Her Majesty’s Revenue and Customs(1) make the following Regulations in exercise of the powers conferred by paragraphs 4(3), 8(2) and 12(2) of Schedule 11 to the Finance Act 2004(2):
These Regulations may be cited as the Income Tax (Construction Industry Scheme) (Amendment No.2) Regulations 2008 and shall come into force on 3rd June 2008.
2-
Amendment to the Income Tax (Construction Industry Scheme) Regulations 2005
In Table 3 in regulation 32 (exceptions from compliance obligations) of the Income Tax (Construction Industry Scheme) Regulations 2005(3) insert at the end—
“Obligation to make a payment under the Tax Acts or Taxes Management Act 1970.
Late or non payment of an amount under £100.”
12th May 2008
Dave Hartnett
Mike Eland
Two of the Commissioners for Her Majesty’s Revenue
and Customs
These Regulations amend the Income Tax (Construction Industry Scheme) Regulations 2005 (S.I. 2005/2045) which make provision for the construction industry scheme established by Chapter 3 of Part 3 of the Finance Act 2004.
Regulation 32 of SI 2005/2045 allows particular failures relevant to any tax obligation to be excepted from construction industry scheme compliance test. These exceptions are set out under Table 3. Regulation 2 of this statutory instrument adds a further exception; the late, or non-payment of an amount under £100 owed under the Tax Acts or Taxes Management Act.
A full impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is forseen.
