- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
This Statutory Instrument has been made to correct an error in S.I. 2007/2069 and is being issued free of charge to all known recipients of that Statutory Instrument
Statutory Instruments
INComE TAX
Made
2nd August 2007
Laid before the House of Commons
3rd August 2007
Coming into force
6th August 2007
1. These Regulations may be cited as the Income Tax (Pay As You Earn) (Amendment No. 3) Regulations 2007, and shall come into force on 6th August 2007 immediately after the Income Tax (Pay as You Earn) (Amendment No. 2) Regulations 2007(3).
2. In the Income Tax (Pay As You Earn) Regulations 2003(4), in regulation 97D(8) (time limits for issue of transfer notices), for “12 months” substitute “three months”.
Dave Hartnett
Mike Hanson
Two of the Commissioners for Her Majesty’s Revenue and Customs
2nd August 2007
(This note is not part of the Regulations)
These Regulations correct an error in the Income Tax (Pay as You Earn) (Amendment No. 2) Regulations 2007 (S.I. 2007/2069) (“the 2007 Regulations”), which insert a new Chapter 4 into Part 4 of the Income Tax (Pay as You Earn) Regulations 2003 (S.I. 2003/2682) (“the PAYE Regulations”). The new Chapter, consisting of regulations 97A to 97L, deals with debts of managed service companies. However, regulation 97D(8) of the PAYE Regulations refers to a period of 12 months, and not (as was intended) to a period of three months. These Regulations correct that error.
A full regulatory impact assessment of the effect that the provisions in the Finance Act 2007 relating to managed service companies will have on the costs of business and the voluntary sector is published on HM Revenue and Customs’s website at www.hmrc.gov.uk/ria/full-ria-man-serv-coys.pdf, and is annexed to the Explanatory Memorandum which is available alongside the 2007 Regulations on the OPSI website.
2003 c. 1. Section 684 was amended by section 145(1) and (2) of the Finance Act 2003 (c. 14), paragraph 117 of Schedule 4 to the Commissioners for Revenue and Customs Act 2005 (c. 11) and section 94(3) of the Finance Act 2006 (c. 25). Section 688A was inserted by paragraph 6 of Schedule 3 to the Finance Act 2007 (c. 11).
The functions of the Commissioners of Inland Revenue were transferred to the Commissioners for Her Majesty’s Revenue and Customs by section 5(2) of the Commissioners for Revenue and Customs Act 2005. Section 50 of that Act provides that in so far as it is appropriate in consequence of section 5 a reference in an enactment, however expressed, to the Commissioners of Inland Revenue is to be read as a reference to the Commissioners for Her Majesty’s Revenue and Customs.
S.I. 2003/2682, amended by S.I. 2007/2069; there are other amending instruments, but none is relevant.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: