Finance Act 2004 (c. 12)

Part 3 U.K. Income tax, corporation tax and capital gains tax

Chapter 3 U.K. Construction industry scheme

Verification, returns etc and penalties U.K.

71 Collection and recovery of sums to be deducted U.K.

(1) The Board of Inland Revenue must make regulations with respect to the collection and recovery, whether by assessment or otherwise, of sums required to be deducted from any payments under section 61.

(2) The regulations may include any matters with respect to which PAYE regulations may be made.

(3) Interest required to be paid by the regulations—

(a) is to be paid without any deduction of income tax, and

(b) is not to be taken into account in computing any income, profits or losses for any tax purposes.