The Scheme: secondary legislation: regulation 46
This regulation deals with contractors required to make an electronic payment.
If HMRC does not receive a specified payment, electronically or otherwise, by the required date the contractor is in default: SI2005/2045 reg 46(2).
The contractor will not be in default if they had a reasonable excuse for not submitting the payment on time and the payment is received by HMRC as soon as possible after the reasonable excuse ceased: SI2005/2045 reg 46(3)(a) and (b).
Inability to pay is not a reasonable excuse: SI2005/2045 reg 46(4).
A payment is not treated as having been received by the required date until the total amount due is fully in HMRC’s possession: SI2005/2045 reg 46(5).
ENABLING PROVISION - FA04/S71 (1)
See CISR17700 this regulation was revoked with effect for tax periods where tax was chargeable commencing 6 April 2010.