PART 4Miscellaneous and final
Insolvency
99HMRC debts: regulations
1
The Treasury may by regulations provide that only the following amounts are secondary preferential debts (or, in relation to Scotland, secondary preferred debts) for the purpose of a relevant provision—
a
in the case of amounts owed in respect of value added tax, amounts referable to such period as is specified in the regulations;
b
in the case of amounts owed in respect of a relevant deduction, amounts owed in respect of a deduction from a payment made during such period as is specified in the regulations.
2
In subsection (1) “relevant provision” means—
a
paragraph 15D(1) of Schedule 6 to the Insolvency Act 1986 (preferential debts: certain HMRC debts);
b
paragraph 8A(1) of Schedule 3 to the Bankruptcy (Scotland) Act 2016 (asp 21) (list of preferred debts: certain HMRC debts);
c
paragraph 22(1) of Schedule 4 to the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) (preferential debts: certain HMRC debts).
3
The Treasury may by regulations specify kinds of deductions for the purposes of—
a
paragraph 15D(3)(c) of Schedule 6 to the Insolvency Act 1986;
b
paragraph 8A(3)(c) of Schedule 3 to the Bankruptcy (Scotland) Act 2016 (asp 21);
c
paragraph 22(3)(c) of Schedule 4 to the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)).
4
Regulations under this section may contain transitional or supplementary provision.
5
Regulations under this section—
a
are to be made by statutory instrument;
b
are subject to annulment in pursuance of a resolution of the House of Commons.