This regulation deals with contractors required to make an
electronic payment.
If HMRC does not receive a specified payment, electronically
or otherwise, by the required date the contractor is in default:
SI2005/2045 reg 46(2).
The contractor will not be in default if they had a
reasonable excuse for not submitting the payment on time and the
payment is received by HMRC as soon as possible after the
reasonable excuse ceased: SI2005/2045 reg 46(3)(a) and (b).
Inability to pay is not a reasonable excuse: SI2005/2045 reg
46(4).
A payment is not treated as having been received by the
required date until the total amount due is fully in HMRC’s
possession: SI2005/2045 reg 46(5).
ENABLING PROVISION – FA04/S71 (1)
