The Insolvency Act 1986 (HMRC Debts: Priority on Insolvency) Regulations 2020

• Citation: S.I. 2020/983
• Sections: 2

Section 1 Citation and commencement

These Regulations may be cited as the Insolvency Act 1986 (HMRC Debts: Priority on Insolvency) Regulations 2020 and come into force on 1st December 2020.

Section 2 Specified deductions

(1) The deductions set out in paragraph (2) are specified 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) and paragraph 22(3)(c) of Schedule 4 to the Insolvency (Northern Ireland) Order 1989 .

(2) The deductions are—

(a) deductions under section 61 (deductions on account of tax from contract payments) of the Finance Act 2004 ,

(b) deductions under paragraph 6(1)(b) (deduction of earnings-related contributions) of Schedule 4 to the Social Security (Contributions) Regulations 2001 ,

(c) deductions under regulation 21 (deduction and repayment of tax by reference to employee’s code) of the Income Tax (Pay As You Earn) Regulations 2003 , and

(d) deductions under regulation 50 (deductions of repayments) of the Education (Student Loans) (Repayment) Regulations 2009 .