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”.