Regulation 67A Revised information to employees about payments and tax deducted (Form P 60)F1

(1)

This regulation applies where—

(a)

an enactment containing a retrospective tax provision applicable to a closed tax year is passed; and

(b)

in consequence of the passing of that enactment an employee’s employment income in that closed tax year is increased.

(2)

Before 1^st January next following the passing of the enactment—

(a)

if the employer has previously given the employee a certificate (Form P60), the employer must give the employee a revised certificate (Form P60); and

(b)

if the employer has not previously given the employee such a certificate, the employer must give the employee a copy of the revised form P14 completed in accordance with regulation 73A (amended return of relevant payments (Forms P14 and P35(RL)) .

(3)

Paragraphs (2) and (3) of regulation 67 apply, in a case falling within paragraph (2)(a), for the purposes of this regulation as they apply for the purposes of that regulation, save that—

(a)

sub-paragraph (f) of paragraph (2) shall have effect as if for “the total amount” there were substituted “the revised total amount”; and

(b)

sub-paragraph (g) of that paragraph shall have effect as if for “total net tax” there were substituted “the revised total amount of net tax”;

with references to revised amounts being construed as references to the amounts of relevant payments and net tax deducted computed after the application of the retrospective tax provision.

(4)

Where a revised certificate is given under this regulation—

(a)

the employer must endorse it to show that it supersedes an earlier certificate; and

(b)

the employee must not use the certificate which it supersedes.

Annotations

Textual amendments

F1: Reg. 67A inserted (6.4.2007) by The Income Tax (Pay as You Earn) (Amendment) Regulations 2007 (S.I. 2007/1077), regs. 1, 11