Search Legislation

Finance Act 1994

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 125

 Help about opening options

Version Superseded: 06/04/2003

Alternative versions:

Status:

Point in time view as at 01/06/2002. This version of this provision has been superseded. Help about Status

Changes to legislation:

There are currently no known outstanding effects for the Finance Act 1994, Section 125. Help about Changes to Legislation

125 Payment by intermediary.U.K.

After section 203A of the Taxes Act 1988 there shall be inserted—

203B PAYE: payment by intermediary.

(1)Subject to subsection (2) below, where any payment of, or on account of, assessable income of an employee is made by an intermediary of the employer, the employer shall be treated, for the purposes of PAYE regulations, as making a payment of that income of an amount equal to the amount determined in accordance with subsection (3) below.

(2)Subsection (1) above does not apply if the intermediary (whether or not he is a person to whom section 203 and PAYE regulations apply) deducts income tax from the payment he makes and accounts for it in accordance with PAYE regulations.

(3)The amount referred to is—

(a)if the amount of the payment made by the intermediary is an amount to which the recipient is entitled after deduction of any income tax, the aggregate of the amount of that payment and the amount of any income tax due; and

(b)in any other case, the amount of the payment made by the intermediary.

(4)For the purposes of this section, a payment of, or on account of, assessable income of an employee is made by an intermediary of the employer if it is made—

(a)by a person acting on behalf of the employer and at the expense of the employer or a person connected with him; or

(b)by trustees holding property for any persons who include or class of persons which includes the employee.

(5)Section 839 applies for the purposes of subsection (4) above.

Back to top

Options/Help

You have chosen to open The Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act without Schedules as a PDF

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?