Finance Act 2020
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Change 1
99 HMRC 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.
99 HMRC 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.
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