PART 4PAYMENTS, RETURNS AND INFORMATION
CHAPTER 1PAYMENT OF TAX AND ASSOCIATED RETURNS
Payment and recovery of tax by employer
Periodic payments to and recoveries from the Revenue68
1
This regulation applies to determine how much an employer must pay or can recover for a tax period.
2
If A exceeds B, the employer must pay the excess to the Inland Revenue.
3
But if B exceeds A, the employer may recover the excess either—
a
by deducting it from the amount which the employer is liable to pay under paragraph (2) for a later tax period in the tax year, or
b
from the Board of Inland Revenue.
4
In this Regulation—
A is—
- a
the total amount of tax which the employer was liable to deduct from relevant payments made by the employer in the tax period, plus
- b
the total amount of tax for which the employer was liable to account in respect of notional payments made by the employer in that period under regulation 62(5) (notional payments);
- a
B is the total amount which the employer was liable to repay in the tax period.
5
Paragraphs (2) and (3) are subject to regulation 71 (modification in case of trade disputes).
6
Paragraph (2) is also subject to regulation 78(11) (entitlement to set off excess payments).