Finance Act, 1992
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Amendment of section 13 (interpretation (Chapter III)) of Finance Act, 1987. |
10.— Section 13 (1) of the Finance Act, 1987 , is hereby amended, as respects relevant payments made on or after the 6th day of June, 1992, by the substitution of the following definition for the definition of “relevant payment” (inserted by the Finance Act, 1988 ): | |
“‘relevant payment’ means a payment made by— | ||
(a) an accountable person in respect of professional services whether or not such services are provided to the accountable person making the payment, or | ||
(b) an authorised insurer to a practitioner in accordance with the provisions of section 14A (inserted by the Finance Act, 1988 ), or otherwise, in the discharge of a claim in respect of relevant medical expenses under a contract of insurance, | ||
but excludes— | ||
(i) emoluments within the scope of Chapter IV of Part V of the Income Tax Act, 1967 , to which that Chapter applies, and | ||
(ii) payments under a construction contract within the meaning of section 17 of the Finance Act, 1970 , and payments under a relevant contract within the meaning of the said section 17 (as amended by the Finance Act, 1992), from which tax has been deducted in accordance with the provisions of subsection (2) of that section, or would have been so deducted but for the provisions of subsection (8) of that section;”. |