HD 3 Agents’ duties and liabilities
When this section applies

(1)

This section applies for the purposes of sections HD 8 to HD 27 in relation to all income derived by a principal through an agent.

Assessments, returns, and payment of tax

(2)

The agent must—

(a)

make the assessments that their principal is required to make; and

(b)

provide all returns required of their principal under the Tax Administration Act 1994; and

(c)

satisfy their principal’s income tax liability.

Assessments, returns, and payments of tax by agents for Lloyd’s of London

(2B)

An agent described in section HD 17B(2) (Lloyd’s of London: agents for life insurance)—

(a)

is not subject to subsection (2) for income derived under section CR 3B (Lloyd’s of London: income from life insurance premiums); and

(b)

must meet the obligations described in section HR 13(3)(a) and (b) (Lloyd’s of London: life insurance) but only to the extent described in section HD 17B(3).

Joint and several liability

(3)

If 2 or more persons are liable as agents in relation to the same tax, the liability is joint and several.

Agent as separate person

(4)

The agent is treated in that capacity as a separate person, and may claim in relation to the agency income only those tax credits or exemptions to which the principal is entitled.

Defined in this Act: agent, assessment, income, income tax liability, return of income, tax, tax credit

Compare: 2004 No 35 ss HK 1, HK 3(3), HK 7(1)

Section HD 3(1): amended, on 21 February 2017, by section 81(1) of the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act 2017 (2017 No 3).

Section HD 3(2B) heading: inserted, on 29 March 2018 (with effect on 1 April 2017 and applying in relation to a life insurance premium that is derived on or after that date by Lloyd’s of London), by section 117(1) of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).

Section HD 3(2B): inserted, on 29 March 2018 (with effect on 1 April 2017 and applying in relation to a life insurance premium that is derived on or after that date by Lloyd’s of London), by section 117(1) of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).

Section HD 3 list of defined terms business: repealed, on 21 February 2017, by section 81(2) of the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act 2017 (2017 No 3).

Section HD 3 list of defined terms New Zealand: repealed, on 21 February 2017, by section 81(2) of the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act 2017 (2017 No 3).