Income Tax Act 2007 section 962

Power to make regulations modifying Chapter

Section 962 gives HMRC the power to make regulations governing how and when persons making section 946 payments must account for, pay and reclaim income tax, and sets out the scope and parliamentary controls applying to those regulations.

• HMRC may make regulations controlling the timing and method by which persons making section 946 payments account for and pay income tax collected from them, and receive repayments of income tax on payments they have received.
• Regulations may modify or apply (with or without changes) any provision of Parts 2 to 6 of the Taxes Management Act 1970, and may make different provision for different types of payer or different circumstances, including special arrangements where HMRC consider exceptional circumstances justify them.
• No regulations may be made unless a draft has first been laid before and approved by a resolution of the House of Commons.
• Any reference in the Act or other legislation to provisions of this Chapter is to be read as including those provisions as modified, replaced or supplemented by regulations made under this section.