4. For paragraph (2) of regulation 12(1) there shall be substituted—
“(2) Where there is a change in the rates of any of the personal reliefs allowable under sections 257 to 257F of the Income and Corporation Taxes Act 1988(2)—
(a)if the change relates to the current year, the Inspector may give notice requiring the employer, with effect from the date specified in the notice, to amend specified codes as directed;
(b)if the change relates to the following year, the Inspector may give notice requiring the employer to carry forward to the following year and adjust as directed specified codes for the current year.
(3) A code amended by virtue of sub-paragraph (a) of paragraph (2) in respect of the current year shall be the appropriate code for that year, and a code carried forward to the following year and adjusted by virtue of sub-paragraph (b) of paragraph (2) shall be deemed to have been determined by the Inspector as the appropriate code for that year, and in either case all the provisions of these Regulations which relate to objections and appeals against the Inspector’s determination, or to deduction of tax by reference to the appropriate code or to the specification of the appropriate code in any code authorisation, return or certificate, shall, with the necessary modifications, have effect accordingly.”
Sections 257 to 257F were substituted for section 257 by section 33 of the Finance Act 1988 (c. 39) and the sections as substituted were amended by sections 33 and 57(4) of the Finance Act 1989, section 17(2) of, and Part IV of Schedule 19 to, the Finance Act 1990 (c. 29), section 33(4) of the Finance Act 1991 (c. 31) and paragraphs 2 to 4 of Schedule 5 to the Finance (No. 2) Act 1992 (c. 48).