Amendment of the Income Tax (Pay As You Earn) Regulations 20037.
In regulation 61G8 (method of calculating the cash equivalent of non-cash vouchers, credit-tokens and employment-related benefits)—
(a)
in the heading after “cash equivalent” insert “or relevant amount”, and
(b)
in paragraph (1) for the words “cash equivalent” to “as earnings).” substitute “cash equivalent or relevant amount of the specified benefit is to be calculated in accordance with section 87, 87A, 94, 94A, 203 or 203A of ITEPA, as the case may be.”.