Chwilio Deddfwriaeth

Finance Act 2014

Details of the Section

2.Subsection (1) amends subsection (1)(c) of section 222 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA) changing the time allowed for an employee to make good to the employer an amount equal to the tax that must be paid to HMRC by the employer in relation to an event that constitutes a notional payment. This deadline is currently 90 days after the notional payment is treated as made by the employer, and will be changed to 90 days after the end of the tax year in which the notional payment is treated as made by the employer.

3.Subsection (2) specifies that the change has effect in relation to notional payments treated as made on or after 6 April 2014.

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