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CISR17090 | The Scheme: secondary legislation: regulation 8

From HM Revenue & Customs · Construction Industry Scheme Reform Manual

This regulation allows the option of quarterly tax periods where

  • the contractor has reason to believe that their average monthly amount of PAYE and CIS deductions will be less than £1500, and

  • they choose to pay this over on a quarterly basis: SI2005/2045 reg 8(1)(a) and (b).

The definition of ‘The average monthly amount’ is at SI2005/2045 reg 8(2)., and theexplanation of the calculating formula to be used is at SI2005/2045 reg 8(3).

Sub-section (4) of this regulation defines certain abbreviations and phrases used insub-section (3).

ENABLING PROVISION – FA04/S71 (1)