http://www.legislation.gov.uk/id/uksi/1996/1780

http://www.legislation.gov.uk/uksi/1996/1780/part/4/made

The Income Tax (Paying and Collecting Agents) Regulations 1996

Income tax

King's Printer of Acts of Parliament

2011-07-29

INCOME TAX

These Regulations supplement the provisions of Chapter VIIA of Part IV of the Income and Corporation Taxes Act 1988 (inserted by paragraph 1 of Schedule 29 to the Finance Act 1996) which relate to the accounting for tax on foreign dividends by paying agents, and the accounting for tax on foreign dividends and quoted Eurobond interest by collecting agents. The Regulations make further provision in relation to the circumstances whereby paying and collecting agents are not liable to account for tax in respect of such dividends or interest paid or received by them.

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.2(1) (defn. of chariunit trust scheme)

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.3(2)

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.2(1) (defns. of eligable person and para.(ba)H) defn.of ( eligible person) para.(ba)

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.3(3)(a)

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.2(3)

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.5

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.2A

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.6

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.3A

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.7

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.4(1A)(lB)

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.8(b)

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.6(5)

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.9(b)

The Income Tax (Paying and Collecting Agents) Regulations 1996

regs.6A

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.10

The Income Tax (Paying and Collecting Agents) Regulations 1996

regs.8A-8C

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.11

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.2(1) (defn. of chariunit trust scheme)

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.3(2)

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.2(1) (defns. of eligable person and para.(ba)H) defn.of ( eligible person) para.(ba)

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.3(3)(a)

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.2(3)

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.5

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.2A

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.6

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.3A

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.7

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.4(1A)(lB)

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.8(b)

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.6(5)

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.9(b)

The Income Tax (Paying and Collecting Agents) Regulations 1996

regs.6A

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.10

The Income Tax (Paying and Collecting Agents) Regulations 1996

regs.8A-8C

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997

reg.11

The Income Tax (Paying and Collecting Agents) Regulations 1996

reg.2B

The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1999

reg.2

Provision of information and inspection and keeping of records

Information to be provided to the Board by paying or collecting agents11

The Board may by notice require any person who is or has at any time been a paying agent or a collecting agent, within such time (not being less than 14 days) as may be provided by the notice, to furnish them with such information (including copies of, or extracts from, any books, documents or other records) as they may reasonably require to satisfy themselves that that person has complied with the requirements of the principal sections and these Regulations.

Inspection of records by officer of the Board12

1

The Board may by notice require any person who is or has at any time been a paying agent or a collecting agent, within such time (not being less than 14 days) as may be provided by the notice, to make available for inspection by an officer of the Board authorised for that purpose all such books, documents and other records in his possession or under his control as they may reasonably require to satisfy themselves that that person has complied with the requirements of the principal sections and these Regulations.

2

Where a document or other record is maintained by a computer, the person to whom the notice is issued shall provide the officer making the inspection with all the facilities necessary for obtaining information from that document or other record.

Keeping of records13

1

A paying agent or a collecting agent shall, throughout the period specified in paragraph (2), maintain and retain sufficient records, other than declarations to which regulation 15 applies, to enable an officer of the Board to satisfy himself on inspection of those records that the agent has complied with the requirements of these Regulations.

2

The period specified is the period of six years commencing with the chargeable date of the relevant payment or relevant receipt to which the record concerned relates.

Information relating to declarations14

The Board may by notice require a depositary who has made a declaration under regulation 3, or an eligible person or an appropriate person who has made a declaration under regulation 4, within such time (not being less than 14 days) as may be provided by the notice, to provide such information as they may reasonably require to enable them to establish whether the declaration is valid.

Keeping of declarations15

1

A paying agent or a collecting agent shall retain, throughout the period specified in paragraph (2) and the period of two years immediately following the end of that period, any declaration made to him under regulation 3 or 4.

2

The period specified is the period during which relevant payments or relevant receipts to which the declaration relates are excluded, by virtue of the declaration, from being chargeable payments or chargeable receipts.

Production of declarations16

1

The Board may by notice require a paying agent or a collecting agent, within such time (not being less than 14 days) as may be provided by the notice, to produce for inspection by an officer of the Board authorised for that purpose all documents in which declarations made to him under regulation 3 or 4 are contained.

2

The officer of the Board to whom the documents referred to in paragraph (1) are produced may take copies of or extracts from those documents.

3

In paragraph (1) the reference to a paying agent or a collecting agent includes a reference to a person who is no longer a paying agent or a collecting agent at the time when the notice under that paragraph is issued.