Finance Act, 1981
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Amendment of section 17 (tax deductions from payments to sub-contractors in the construction industry) of Finance Act, 1970. |
7.— Section 17 (2) (inserted by the Finance Act, 1976 ) of the Finance Act, 1970 , is hereby amended, as respects payments made on or after the date of the passing of this Act, by the substitution for paragraph (b) of— | |
“(b) a person carrying on a business which includes the erection of buildings or the manufacture, treatment or extraction of materials for use, whether used or not, in construction operations, or | ||
(bb) a person who is connected with a company carrying on such a business as is mentioned in paragraph (b) (a person being regarded for the purposes of this paragraph as being so connected if he would be regarded for the purposes of section 16 of the Finance (Miscellaneous Provisions) Act, 1968 , as being so connected), or”. |