Finance Act 2004 (c. 12)

SCHEDULES

SCHEDULE 12 U.K. Construction industry scheme: consequential amendments

Calculation of deemed employment payment U.K.

17 (1) Section 54 of the Income Tax (Earnings and Pensions) Act 2003 (c. 1) is amended as follows. U.K.

(2) In subsection (2) (intermediary to be treated, in calculating the deemed employment payment, as if amounts received subject to deduction under section 559 of the Taxes Act 1988 had been received without deduction) for “section 559 of ICTA” substitute “ section 61 of the Finance Act 2004 ”.