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

S.I. 1992/1059 · Made 27 April 1992

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

INCOME TAX

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 1988f1, hereby make the following Regulations:

Annotations to the whole text

Footnotes

f1

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.

Contents

  1. 1Citation and commencement
  2. 2Interpretation
  3. 3Amendments to the principal Regulations
  4. 4Amendments to the principal Regulations
  5. 5Amendments to the principal Regulations
  6. Signature
  7. Explanatory note

1Citation and commencement

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

2Interpretation

In these Regulations “the principal regulations” means the Income Tax (Employments) Regulations 1973f1 and “regulation” means a regulation of those Regulations.

3Amendments to the principal Regulations

In regulation 2(1), in the definition of “income tax period”f1 for the word “while” there shall be substituted the word “where”.

4Amendments to the principal Regulations

In regulation 24(5)f1 for the words “paragraph (7) of Regulation 26” there shall be substituted the words “paragraph (6) of Regulation 26B”f2

5Amendments to the principal Regulations

In regulation 26A(3)f1 for “£400” there shall be substituted “£450”.

Signature

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.