The Income Tax (Pay As You Earn) Regulations 2003 No. 2682

SCHEDULE 1 U.K. TRANSITIONAL PROVISIONS AND SAVINGS

PART 2 U.K. SPECIFIC PROVISIONS

Interest on tax overdue: application of regulation 82 to tax years from 1992-93 to 2003-04 U.K.

21.—(1) Regulation 82 (interest on tax overdue) has effect with the following modifications where the tax year in respect of which tax is unpaid is—

(a) the tax year ending 5th April 1993, or

(b) a tax year ending after 5th April 1993 but on or before 5th April 2004.

(2) In paragraph (1) for “the total net tax payable in respect of a tax year” substitute “the total net tax deductible by him in respect of all of his employees during a tax year”.

(3) In paragraph (4) for “a direction made under [F1 regulation 72(5), 72F] or 81(4)” substitute “a direction made under regulation 42(2) or (3) or 49(5) of the 1993 Regulations(1) or regulation 72(5) or 81(4) of these Regulations”.

(4) Omit paragraph (6).

(5) For paragraph (8) substitute—

“(8) The “reckonable date” means 14 days after the end of the tax year.”

(6) After that paragraph insert—

“(9) “The 1993 Regulations” means the Income Tax (Employments) Regulations 1993.”

Textual Amendments

F1 Words in Sch. 1 para. 21(3) substituted (6.4.2008) by The Income Tax (Pay As You Earn) (Amendment) Regulations 2008 (S.I. 2008/782), regs. 1, 17

Commencement Information

I1 Sch. 1 para. 21 in force at 6.4.2004, see reg. 1

(1)

Regulation 42(2) and (3) were amended by regulation 3 of S.I. 1995/447. Regulation 49(5) was amended by regulation 5 of S.I. 1995/447.