# The Income Tax (Pay As You Earn) Regulations 2003, Regulation 44: Form P45 for previous tax year: employment starting on or before 24th May

Extent: E+W+S+N.I.

(1) The new employer must—
(a) record in the deductions working sheet the code shown in Parts 2 and 3 of Form P45 as the employee’s code, and
(b) deduct or repay tax by reference to that code on the cumulative basis, subject to regulation 32 (higher rate code: deductions).
(2) The receipt by the employer of Parts 2 and 3 of Form P45 is treated as the issue by the Inland Revenue of the code shown in Parts 2 and 3 of Form P45 as the code for use in respect of the employee.

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Source: https://www.legislation.gov.uk/uksi/2003/2682/regulation/44 (the official version)
Page: https://openlegislation.uk/income-tax-pay-as-you-earn-regulations-2003/regulation-44
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.