- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (13/08/2009)
- Gwreiddiol (a wnaed Fel)
Version Superseded: 06/04/2012
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There are currently no known outstanding effects for the The Income Tax (Pay As You Earn) Regulations 2003, Section 68.
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68.—(1) This regulation applies to determine how much an employer must pay or can recover for a tax period.
(2) If A exceeds B, the employer must pay the excess to the Inland Revenue.
(3) But if B exceeds A, the employer may recover the excess either—
(a)by deducting it from the amount which the employer is liable to pay under paragraph (2) for a later tax period in the tax year, or
(b)from the Board of Inland Revenue.
(4) In this Regulation—
A is—
the total amount of tax which the employer was liable to deduct from relevant payments made by the employer in the tax period, plus
the total amount of tax for which the employer was liable to account in respect of notional payments made [F1or treated by virtue of a retrospective tax provision as made,] by the employer in that period under regulation 62(5) (notional payments);
B is the total amount which the employer was liable to repay in the tax period.
(5) Paragraphs (2) and (3) are subject to regulation 71 (modification in case of trade disputes).
(6) Paragraph (2) is also subject to regulation 78(11) (entitlement to set off excess payments).
[F2(7) In the application of paragraph (4) to notional payments arising by reason of the coming into force of the Finance Act 2006, the reference to section 710(7A)(a) of ITEPA 2003 shall be modified as mentioned in section 94(5)(c) of the Finance Act 2006.]
Textual Amendments
F1Words in reg. 68(4)(b) inserted (6.4.2007) by The Income Tax (Pay as You Earn) (Amendment) Regulations 2007 (S.I. 2007/1077), regs. 1, 12(2)
F2Reg. 68(7) added (6.4.2007) by The Income Tax (Pay as You Earn) (Amendment) Regulations 2007 (S.I. 2007/1077), regs. 1, 12(3)
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