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The Income Tax (Pay As You Earn) (Amendment No. 3) Regulations 2007

S.I. 2007/2296 · Made 2 August 2007

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.

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

INComE TAX

Made 2nd August 2007

Laid before the House of Commons 3rd August 2007

Coming into force 6th August 2007

The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by sections 684 and 688A(1) to (4) of the Income Tax (Earnings and Pensions) Act 2003f1 and now exercisable by themf2.

Annotations to the whole text

Footnotes

f1

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).

f2

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.

Contents

  1. 1Citation and commencement
  2. 2Amendment of the Income Tax (Pay As You Earn) Regulations 2003
  3. Signature
  4. Explanatory note

1Citation and commencement

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 2007f1.

2Amendment of the Income Tax (Pay As You Earn) Regulations 2003

In the Income Tax (Pay As You Earn) Regulations 2003f1, in regulation 97D(8) (time limits for issue of transfer notices), for “12 months” substitute “three months”.

Signature

Dave Hartnett

Mike Hanson

Two of the Commissioners for Her Majesty’s Revenue and Customs

2nd August 2007

Explanatory note

(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.