Version Superseded: 06/04/2021
Point in time view as at 21/07/2009. This version of this provision has been superseded.
There are currently no known outstanding effects for the Finance Act 2004, Section 61.
(1)On making a contract payment the contractor (see section 57(3)) must deduct from it a sum equal to the relevant percentage of so much of the payment as is not shown to represent the direct cost to any other person of materials used or to be used in carrying out the construction operations to which the contract under which the payment is to be made relates.
(2)In subsection (1) “the relevant percentage” means such percentage as the Treasury may by order determine.
(3)That percentage must not exceed—
(a)if the person for whose labour (or for whose employees' or officers' labour) the payment in question is made is registered for payment under deduction, the percentage which is the basic rate for the year of assessment in which the payment is made, or
(b)if that person is not so registered, the percentage which is the higher rate for that year of assessment.
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