Finance Act, 1987

Deduction of tax from relevant payments.

15.—(1) An accountable person making a relevant payment shall deduct out of the amount of the payment the appropriate tax in relation to the payment. The specified person to whom such payment is made shall allow such deduction upon receipt of the residue of the payment, and the accountable person making such deduction shall be acquitted and discharged of so much money as is represented by the deduction, as if that sum had actually been paid.

(2) The provisions of the Tax Acts in relation to the computation of profits or gains shall not be affected by the deduction of appropriate tax from relevant payments in accordance with the provisions of subsection (1) and, accordingly, the amount of such relevant payments shall be taken into account in computing the profits or gains of the specified person for tax purposes.