The Scheme: secondary legislation: regulation 8
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)