PART 4 Deduction Authorisations and Deduction Summaries

Source

Income and corporation tax regulations 2010.

6 Deduction authorisations

(1) For the purposes of issuing a deduction authorisation under section 530D(1) of the Act, the Revenue Commissioners shall cause the RCT service to make available a deduction authorisation to the principal concerned.

(2) A deduction authorisation shall only be valid until—

(a) the making by the principal concerned of the payment concerned,

(b) the due date relating to the return period within which the deduction authorisation was issued,

(c) the making by the principal concerned of the return for the return period within which the deduction authorisation was issued, or

(d) the cancellation of the related payment notification in accordance with Regulation 5(4),

whichever is the earliest.

(3) A deduction authorisation shall be valid only in respect of the subcontractor named on it and the relevant payment to which it relates.

(4) On accessing a deduction authorisation, the principal concerned shall examine its contents to ensure that the subcontractor named on the deduction authorisation is a party to the relevant contract to which it relates.

(5) The Revenue Commissioners may, by electronic or other means, make available to a subcontractor details of the information contained in deduction authorisations relating to that subcontractor.

7 Deduction summaries

(1) For the purposes of section 530D(3) of the Act, the Revenue Commissioners shall, at the end of each return period, cause the RCT service to issue a deduction summary to a principal.

(2) A deduction summary in respect of a return period shall include—

(a) details in relation to all relevant payments, if any, notified by that principal, which are the subject of a valid deduction authorisation at the time of issue of the deduction summary (in these Regulations, the details on a deduction summary in relation to each such relevant payment shall be referred to as a “line item”),

(b) details of any relevant payment of which, during the return period, the principal has notified the Revenue Commissioners under section 530F(7) of the Act,

(c) details of any relevant payment to which Regulation 8(5) relates,

(d) the aggregate amount of tax that is, based on the details in the deduction summary, payable by the principal in respect of the return period, and

(e) information on how to accept, amend or supplement the information in the deduction summary for the purpose of making a return referred to in Regulation 8.