Statutory Instruments

1992 No. 1059

INCOME TAX

The Income Tax (Employments) (No. 22) Regulations 1992

Made

27th April 1992

Laid before the House of Commons

28th April 1992

Coming into force

19th May 1992

The Commissioners of Inland Revenue, in exercise of the powers conferred on them by section 203(2) of the Income and Corporation Taxes Act 1988(1), hereby make the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Income Tax (Employments) (No. 22) Regulations 1992, and shall come into force on 19th May 1992.

Interpretation

2. In these Regulations "the principal regulations" means the Income Tax (Employments) Regulations 1973(2) and "regulation" means a regulation of those Regulations.

Amendments to the principal Regulations

3. In regulation 2(1), in the definition of "income tax period"(3) for the word "while" there shall be substituted the word "where".

4. In regulation 24(5)(4) for the words "paragraph (7) of Regulation 26" there shall be substituted the words "paragraph (6) of Regulation 26B"(5)

5. In regulation 26A(3)(5) for "£400" there shall be substituted "£450".

T. J. Painter

L. J. H. Beighton

Two of the Commissioners of Inland Revenue

27th April 1992

Explanatory Note

(This note is not part of the Regulations)

The Income Tax (Employments) Regulations 1973 ("the PAYE Regulations ") (as amended) allow certain employers to pay deductions under Pay As You Earn ( "PAYE ") to the Inland Revenue quarterly rather than monthly. The employers in question are those whose average monthly payments of PAYE, National Insurance Contributions ( "NIC ") and the statutory deduction imposed by section 559 of the Income and Corporation Taxes Act 1988 on payments to sub-contractors are expected to be less than £400 in total.

Regulation 5 of these Regulations raises the amount of £400 to £450 with effect from 19th May 1992.

The opportunity has also been taken (in regulations 3 and 4 of these Regulations) to amend the definition of "income tax period " in regulation 2(1) of the PAYE Regulations, and to amend a cross-reference in regulation 24(5) of the PAYE Regulations.

(1)

1988 c. 1; section 203 was amended by sections 35 and 128 of, and paragraph 4 of Schedule 3 to, the Finance Act 1988 (c. 39), and by sections 45(3) and 187(1) of, and Part IV of Schedule 17 to, the Finance Act 1989 (c. 26), and extended by section 98A of the Taxes Management Act 1970 (c. 9) as inserted by section 165(1) of the Finance Act 1989.

(2)

S.I. 1973/334.

(3)

The definition of "income tax period " in regulation 2(1) was inserted by S.I. 1991/1080 regulation 3.

(4)

Regulation 24(2) to (7) was substituted, and regulation 24(1) was amended, by S.I. 1982/66 regulation 7.

(5)

Regulations 26A and 26B were inserted by S.I. 1991/1080 regulation 4.