- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (13/08/2009)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 01/04/2010
Point in time view as at 13/08/2009.
Income Tax (Earnings and Pensions) Act 2003, Cross Heading: Other duties of trustees in relation to tax liabilities is up to date with all changes known to be in force on or before 27 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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80(1)The trust instrument must require the trustees to maintain such records as may be necessary for the purposes of—U.K.
(a)their own PAYE obligations, or
(b)the PAYE obligations of the employer company so far as they relate to the plan.
(2)In sub-paragraph (1)—
“PAYE obligations”, in relation to the trustees, includes obligations under sections 510 to 514 (PAYE: shares ceasing to be subject to plan and capital receipts);
“the employer company” has the same meaning as in section 513.
(3)The trust instrument must require the trustees, where the participant becomes liable to income tax under—
(a)this Act, or
(b)[F1Chapter 3 or 4 of Part 4 of ITTOIA 2005 (dividends etc. from UK or non-UK resident companies etc.)] ,
by reason of the occurrence of any event, to inform the participant of any facts relevant to determining that liability.
(4)Section 234A(4) to (11) of ICTA (information relating to distributions to be provided by nominee) applies in relation to—
(a)the balance of any cash dividend paid over to the participant under paragraph 64(3),
(b)any amount paid over to a participant under paragraph 68(4) (dividend retained for reinvestment and later paid out), or
(c)any relevant dividend (see sub-paragraph (5)),
as if it were a payment to which section 234A(4)(b) applied (and, in the case of an amount within paragraph (b) above, as if the cash dividend had been paid at the time of the payment to the participant under paragraph 68(4)).
(5)In a case where dividend shares cease to be subject to the plan before the end of the period of 3 years beginning with the date on which they were acquired on a participant’s behalf, the cash dividend applied to acquire dividend shares on the participant’s behalf is a “relevant dividend” for the purposes of sub-paragraph (4)(c).
Textual Amendments
F1Words in Sch. 2 para. 80(3)(b) substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 617(4) (with Sch. 2)
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