Amendment of the Income Tax (Pay As You Earn) Regulations 20033
In regulation 70 (quarterly tax periods)—
a
in paragraph (2) for the formula “(P + N + L + S)−(C + SP + CD)” substitute “(P + N + L + S)−(SP + CD)”;
b
in paragraph (3)—
i
in the description of “P” omit “disregarding any WTC adjustment”;
ii
in the description of “S” omit “, disregarding any WTC adjustment”;
iii
in the descriptions of “N” and “L” omit paragraph “(b)” and the word “and” immediately preceding it; and
iv
omit the description of “C”; and
c
in paragraph (4) omit the definitions of “WTC adjustment” and “WTC Regulations”.