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Relevant contracts tax.
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33.—(1) Section 531 of the Principal Act is amended—
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(a) by inserting the following after subsection (3A):
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“(3B) (a) Subject to paragraph (b), where a principal or any person who was previously a principal makes a remittance of tax in respect of a year of assessment or a period comprised in a year of assessment and details of the remittance are not included in a return required to be made under subsection (3A), the amount comprised in the remittance shall be deemed to be a remittance in respect of the first income tax month of the year of assessment.
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(b) Where, within 1 month of interest being demanded of a person by the Collector-General under subsection (9) by virtue of the application of paragraph (a), the person makes a return to the Collector-General under subsection (3A) for the income tax month or months to which the remittance of tax relates and of the amount comprised in the remittance for each of those income tax months, paragraph (a) shall be deemed not to have applied and the remittance shall be treated for the purposes of this section as a remittance or, as the case may be, remittances of tax for the respective income tax month or months.”,
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(b) by substituting the following for paragraph (ii) of subsection (10):
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“(ii) where the notice relates to a year of assessment, for the first income tax month in the year of assessment to which the notice relates, but where the inspector determines, or, on appeal against the notice, the Appeal Commissioners determine, the amount of tax which the person was liable to remit, but had not remitted, for each income tax month comprised in the year of assessment, interest shall be calculated and payable in respect of each amount so determined in accordance with subsection (9) as if that amount were included in a notice in respect of the income tax month in question.”,
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and
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(c) in subsection (12)—
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(i) by substituting the following for paragraph (c):
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“(c) Notwithstanding paragraphs (a) and (b), a principal may apply for a relevant payments card in respect of a subcontractor for a year of assessment where—
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(i) the principal has been issued with a relevant payments card in respect of the subcontractor for the immediately preceding year of assessment,
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(ii) the relevant contract between the principal and the subcontractor in relation to which the relevant payments card is required is likely to be ongoing at the end of that preceding year, and
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(iii) the principal has obtained from the subcontractor details of the subcontractor's certificate of authorisation for the year of assessment to which the application for the relevant payments card relates.”,
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and
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(ii) in paragraph (d), by substituting “the making of an application under paragraph (a), (b) or (c)” for “such application”.
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(2) (a) Paragraphs (a) and (b) of subsection (1) apply as respects the year of assessment 2003 and subsequent years of assessment.
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(b) Paragraph (c) of subsection (1) applies as respects applications made under section 531(12)(c) of the Principal Act on or after the date of the passing of this Act.
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