The Income Tax (Employments) (Amendment No. 3) Regulations 1996

Amendments to the principal Regulations

15.  After regulation 101 there shall be inserted—

“Recovery of overpayments and recovery of underpayments—self-assessments

101A.— (1) For the purpose of determining in respect of the year ended 5th April 1997 or any subsequent year—

(a) the amount of any such excess as is mentioned in section 59A(1) of the Management Act, or

(b) the amount of the difference mentioned in section 59B(1) of that Act,

any necessary adjustments in respect of the matters prescribed by paragraph (2) shall be made to the amount of tax deducted at source in accordance with these Regulations in that year.

(2) The matters prescribed are—

(a) the aggregate amount of any repayments of tax deducted at source made to the employee;

(b) the like matters as are specified in paragraph (4) of regulation 101, having regard to paragraphs (5) and (6) of that regulation.

(3) Where the amount of the difference mentioned in section 59B(1) of the Management Act is payable by the employee as mentioned in that section, the inspector or other officer of the Board may—

(a) require the employee to pay that amount to the collector, or

(b) take that amount into account in determining the appropriate code for a subsequent year.

(4) In paragraph (2)(a) the reference to repayments of tax is a reference to any repayments made in the year in which the tax was deducted at source, or after the end of that year but before the employee’s return containing his self-assessment is made under section 8 or 8A(1) of the Management Act.”

(1)

Section 8A was amended by section 178(2) of the Finance Act 1994, section 104(1) of the Finance Act 1995 and section 121(1) to (3) of, and Part V(6) of Schedule 41 to, the Finance Act 1996.