SCHEDULES

SCHEDULE 12Construction industry scheme: consequential amendments

Records to be kept for purposes of returns

1

1

Section 12B of the Taxes Management Act 1970 (c. 9) is amended as follows.

2

In subsection (4A) (records in respect of which duty to preserve records may not be satisfied by preservation of information contained in them) for paragraph (b) substitute—

b

any record (however described) which is required by regulations under section 70(1)(c) of the Finance Act 2004 to be given to a sub-contractor (within the meaning of section 58 of that Act) on the making of a payment to which section 61 of that Act (deductions on account of tax) applies;