Regulation 108 Calculation of tax payable under PSAI1

computed annually in accordance with the factors specified in paragraph (2), and

comprised of the amounts specified in paragraph (3)

in the case of qualifying general earnings comprising sums paid in respect of expenses, the estimated aggregate amount of such payments on which income tax is chargeable, reduced by such amount (if any) as would have been deductible if the qualifying general earnings had not been included in the PSA;

in the case of qualifying general earnings comprising benefits provided or made available, the estimated aggregate amount of the cash equivalents and other amounts on which income tax is chargeable, reduced by such amount (if any) as would have been deductible if the qualifying general earnings had not been included in the PSA;

the total number of employees in receipt of qualifying general earnings comprised in the PSA;

the number of those employees respectively chargeable to income tax—

such other matters as are agreed by F10HMRC and the employer to be relevant in relation to the qualifying general earnings comprised in the PSA.

an amount equal to income tax on the aggregate of the amounts computed in accordance with paragraph (2)(a) and (b), calculated so as to take account of the factor specified in paragraph (2)(d); and

a further amount reflecting an estimate of the income tax on the benefit to the employees of having no tax liability on the qualifying general earnings included in the PSA.