The Scheme: primary legislation: section 64
This section covers the requirements for those wanting to register for gross payment.
- An individual applying for gross payment status as a sole trader must satisfy the conditions outlined in Part 1 of FA04/SCH11: FA04/S64 (2)
- An individual or company applying for gross payment status as a partner in a firm must meet the conditions in Parts 1 and 3 of FA04/SCH11 respectively and the firm itself must meet the conditions in Part 2 of FA04/SCH11: FA04/S64 (3)
- Companies applying for gross payment status must meet the conditions in Part 3 of FA04/SCH11: FA04/S64 (4)
If the Board so directs
- the directors of the company: FA04/S64 (5(a)
- persons who are beneficial owners of shares (where the company is a close company): FA04/S64 (5)(b), or
- all or some of the directors or beneficial shareholders of the applicant company to be stipulated by HMRC: FA04/S64 (5)(c)
must meet the conditions in Part 1 of FA04/SCH11 to the extent specified.
The remaining sub-sections in this section:
- FA04/S64 (6) refers to the Boards powers at FA04/S65 (1) to make a direction under FA04/S64 (5) where there has been a change in control of the company.
- FA04/S64 (7) defines ‘director’.