The Taxation of Income from Land (Non-residents) (Amendment) Regulations 2020

Amendment to regulation 9 (calculation of payment of tax by agent)

This adran has no associated Memorandwm Esboniadol

4.  In regulation 9—

(a)for paragraph (4), substitute—

(4) The expenses specified are all amounts paid in the quarter by the prescribed person or by another person at the direction of the prescribed person that—

(a)the prescribed person is reasonably satisfied are deductible expenses, and

(b)in relation to financing costs, where the prescribed person elects, do not exceed the financing costs allowance., and

(b)after paragraph (9) insert—

(10) For the purposes of this regulation, “financing costs” and “the financing costs allowance” have the meanings given in regulation 9A(5).