Section 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.