PART 3U.K.DEDUCTION AND REPAYMENT OF TAX

CHAPTER 4U.K.MISCELLANEOUS

[F1Revised information to employees about payments and tax deducted (Form P 60)U.K.

67A.—(1) This regulation applies where—

(a)an enactment containing a retrospective tax provision applicable to a closed tax year is passed; and

(b)in consequence of the passing of that enactment an employee’s employment income in that closed tax year is increased.

(2) Before 1st January next following the passing of the enactment—

(a)if the employer has previously given the employee a certificate (Form P60), the employer must give the employee a revised certificate (Form P60); and

(b)if the employer has not previously given the employee such a certificate, the employer must give the employee a copy of the revised form P14 completed in accordance with regulation 73A (amended return of relevant payments (Forms P14 and P35(RL)) .

(3) Paragraphs (2) and (3) of regulation 67 apply, in a case falling within paragraph (2)(a), for the purposes of this regulation as they apply for the purposes of that regulation, save that—

(a)sub-paragraph (f) of paragraph (2) shall have effect as if for “the total amount” there were substituted “the revised total amount”; and

(b)sub-paragraph (g) of that paragraph shall have effect as if for “total net tax” there were substituted “the revised total amount of net tax”;

with references to revised amounts being construed as references to the amounts of relevant payments and net tax deducted computed after the application of the retrospective tax provision.

(4) Where a revised certificate is given under this regulation—

(a)the employer must endorse it to show that it supersedes an earlier certificate; and

(b)the employee must not use the certificate which it supersedes.]

Textual Amendments