Income Tax (Construction Contracts) Regulations, 1976.
Statutory Instruments
Source: Statutory Instruments

num: 1
paragraphs: (1) These Regulations may be cited as the Income Tax (Construction Contracts) Regulations, 1976.
(2) These Regulations shall come into operation on the 6th day of December, 1976.
num: 2
paragraphs: In relation to any payment made to a sub-contractor on or after the 6th day of December, 1976, the Income Tax (Construction Contracts) Regulations, 1971 ( S.I. No. 1 of 1971 ), are hereby amended—
( a ) in Regulation 2—
(i) by the deletion of the definition of "accounting period",
(ii) by the substitution for the definition of "certified sub-contractor" of:
" 'certified sub-contractor', in relation to a principal, means a sub-contractor—
( a ) in respect of whom the principal holds, at the time of making a payment under a construction contract to the sub-contractor, a construction payments card for the year in which the payment is made, and
( b ) in respect of whom the principal has not received a notice under subsection (9) (a) of the principal section.",
(iii) by the substitution for the definition of "principal section" of the following definition:
" 'principal section' means section 17 (inserted by the Finance Act, 1976 (No. 16 of 1976)) of the Finance Act, 1970 (No. 14 of 1970);",
(iv) by the insertion in the definition of "sub-contractor's certificate" after "a certificate" of "of authorisation";
(v) by the substitution for the definition of "uncertified sub-contractor" of the following definition:
" 'uncertified sub-contractor' means a sub-contractor who is not a certified sub-contractor;",
( b ) in Regulation 6 by the substitution of"return, construction payments card or construction tax deduction card" for "or register" in each place where it occurs,
( c ) by the deletion of Regulation 7,
( d ) in Regulation 12—
(i) by the deletion in paragraph (1) of—
(I) "in any accounting period or", and
(II) "accounting period or", in both places where it occurs,
and
(ii) by the deletion in paragraph (3) of "accounting periods or",
( e ) in Regulation 13—
(i) by the deletion, in paragraph (2), of "income" in each place where it occurs,
(ii) by the substitution, in paragraph (3), for subparagraphs (b) and (c) of the following subparagraphs—
"( b ) compute the proportion applicable to the repayment period of the amount of tax—
(i) payable by the claimant for the said year on foot of an assessment or assessments made on him, or, as the case may be,
(ii) estimated, in accordance with paragraph (2) of this Regulation, to be payable by the claimant for that year,
( c ) specify—
(i) the amount or amounts of tax for which the claimant is liable for any year or years other than the year referred to in subparagraph (a) of this paragraph, and
(ii) any amount or amounts which at the date of making any repayment under subparagraph (d) of this paragraph, he is liable to remit under any of the enactments referred to in subsection (4) (c) (ii) of the principal section,
and
( d ) repay to the claimant the excess of the aggregate amount computed under sub-paragraph (a) of this paragraph, as reduced by any part of that amount which has been repaid or set off, over the aggregate of—
(i) the proportion computed under sub-paragraph (b) of this paragraph, and
(ii) the amount or the total of the amounts specified under subparagraph (c) of this paragraph.", and
(iii) by the insertion after paragraph (4) of the following paragraph:
"(5) In relation to a case where a sub-contractor is chargeable to corporation tax, unless the context otherwise requires, in this Regulation, references to tax shall include references to corporation tax and references to a year shall include references to an accounting period.",
( f ) in Regulation 15 by the substitution in paragraph (1) of "(including construction payments cards and construction tax deduction cards)" for "and the register of subcontracts",