- Latest available (Revised)
- Original (As made)
The Income Tax (Employments) (No. 22) Regulations 1992
You are here:
- 1992 No. 1059
- Explanatory Note
What Version
Opening Options
Status:
This is the original version (as it was originally made). UK Statutory Instruments are not carried in their revised form on this site.
Explanatory Note
(This note is not part of the Regulations)
The Income Tax (Employments) Regulations 1973 (“the PAYE Regulations ”) (as amended) allow certain employers to pay deductions under Pay As You Earn ( “PAYE ”) to the Inland Revenue quarterly rather than monthly. The employers in question are those whose average monthly payments of PAYE, National Insurance Contributions ( “NIC ”) and the statutory deduction imposed by section 559 of the Income and Corporation Taxes Act 1988 on payments to sub-contractors are expected to be less than £400 in total.
Regulation 5 of these Regulations raises the amount of £400 to £450 with effect from 19th May 1992.
The opportunity has also been taken (in regulations 3 and 4 of these Regulations) to amend the definition of “income tax period ” in regulation 2(1) of the PAYE Regulations, and to amend a cross-reference in regulation 24(5) of the PAYE Regulations.
Options/Help
Print Options
Print The Whole Instrument
Print This Explanatory Note only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once