DMBM450100 - Legislation: IT-SC Regulations
Regulations concerning payment of contractors’ deductions, which form the basis for compliance action, are contained in the Income Tax (Construction Industry Scheme) Regulations 2005.
The table shows a selection and their effects.
| Summary of contents | Income Tax (Construction Industry Scheme) Regulations 2005 |
|---|---|
| Requires a contractor to pay monthly the net sums deducted |
Reg 7 |
| Requires the contractor to make a monthly Return |
Reg 4 |
| Where no payment or an insufficient payment has been made, the debt manager may require a contractor to make a return of the amounts payable |
Reg 10 |
| Where no payment or an insufficient payment has been made, the debt manager may specify the amount a contractor should pay |
Reg 11 |
| HMRC may determine the amount a contractor should pay |
Reg 13 |
| Charge interest on tax due |
Reg 14 |
| A person nominated by the Commissioners for Her Majesty’s Revenue and Customs may inspect an employer’s/ contractor’s records to quantify the overdue liabilities |
Reg 51 |
