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62.—(1) This regulation applies if an employer makes a relevant payment which is a notional payment to an employee.
(2) The employer must, so far as possible, deduct tax required to be deducted in respect of a notional payment in accordance with any of the following regulations from any relevant payment or payments which the employer actually makes to the employee at the same time as the notional payment.
(3) The regulations are—
regulations 22 to 25 | cumulative basis |
regulations 26 to 31 | non-cumulative basis |
regulation 32 | higher rate code: deductions |
regulation 34 | simplified deduction scheme for personal employees |
regulation 37 | PAYE income paid after employment ceased. |
(4) If the employer cannot deduct the full amount of tax as required by paragraph (2) from another relevant payment made at the same time as the notional payment, the employer must, so far as possible, deduct the tax from any payment or payments which the employer makes later in the same tax period.
(5) If the relevant payments actually made are insufficient to enable the employer to deduct the full amount of tax due in respect of notional payments, the employer must account to the Board of Inland Revenue for any amount which the employer is unable to deduct.
(6) Regulations 23(5) and 28(5) (deductions on cumulative or non-cumulative basis not to exceed the overriding limit) do not apply to the extent that the tax to be deducted is in respect of a notional payment.
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