Paragraph 21 Interest on tax overdue: application of regulation 82 to tax years from 1992-93 to 2003-04

Regulation 82 (interest on tax overdue) has effect with the following modifications where the tax year in respect of which tax is unpaid is—

In paragraph (1) for “the total net tax payable in respect of a tax year” substitute “the total net tax deductible by him in respect of all of his employees during a tax year”.

In paragraph (4) for “a direction made under F1regulation 72(5), 72F or 81(4)” substitute “a direction made under regulation 42(2) or (3) or 49(5) of the 1993 Regulations^f1 or regulation 72(5) or 81(4) of these Regulations”.

Omit paragraph (6).

For paragraph (8) substitute—

“(8)

The “reckonable date” means 14 days after the end of the tax year.”

After that paragraph insert—

“(9)

“The 1993 Regulations” means the Income Tax (Employments) Regulations 1993.”