Regulation 68 Periodic payments to and recoveries from HMRC: non-Real Time Information employersF4

This regulation applies to determine how much F1a non-Real Time Information employer must pay or can recover for a tax period.

If A exceeds B, the employer must pay the excess to the Inland Revenue.

But if B exceeds A, the employer may recover the excess either—

In this Regulation—

• A is—

  1. (a)

     the total amount of tax which the employer was liable to deduct from relevant payments made by the employer in the tax period, plus

  2. (b)

     the total amount of tax for which the employer was liable to account in respect of notional payments made F2or treated by virtue of a retrospective tax provision as made, by the employer in that period under regulation 62(5) (notional payments);

• B is the total amount which the employer was liable to repay in the tax period.

Paragraphs (2) and (3) are subject to regulation 71 (modification in case of trade disputes).

Paragraph (2) is also subject to regulation 78(11) (entitlement to set off excess payments).

In the application of paragraph (4) to notional payments arising by reason of the coming into force of the Finance Act 2006, the reference to section 710(7A)(a) of ITEPA 2003 shall be modified as mentioned in section 94(5)(c) of the Finance Act 2006.