Amendment of the Income Tax (Pay As You Earn) Regulations 2003
This section has no associated Explanatory Memorandum
3. 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”.