2008 No. 838
Income Tax

The Income Tax (Payments on Account) (Amendment) Regulations 2008

Made
Laid before the House of Commons
Coming into force
The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by section 59A(1) of the Taxes Management Act 19701 and now vested in them2.

Citation, commencement and effect1.

These Regulations may be cited as the Income Tax (Payments on Account) (Amendment) Regulations 2008, shall come into force on 6th April 2009 and shall have effect as respects the year 2009-10 and subsequent years of assessment.

Amendment of the Income Tax (Payments on Account) Regulations 19962.

In regulation 3 of the Income Tax (Payments on Account) Regulations 19963 (which prescribes the assessed amount for the purposes of section 59A(1)(c) of the Taxes Management Act 1970) for “£500” substitute “£1,000”.
Dave Hartnett
Mike Eland
Two of the Commissioners for Her Majesty’s Revenue and Customs
EXPLANATORY NOTE
(This note is not part of the Regulations)

These Regulations amend regulation 3 of the Income Tax (Payment on Account) Regulations 1996 (S.I. 1996/1654), increasing the assessed amount prescribed for the purposes of section 59A of the Taxes Management Act 1970 from £500 to £1,000 for the year of assessment 2009-10 and subsequent years of assessment. The effect is to increase to £1,000 the amount of tax which must be outstanding before a taxpayer is required to make a payment on account of income tax under section 59A of the Taxes Management Act 1970.

A full Impact Assessment was published by HM Revenue and Customs and is available on their website at www.hmrc.gov.uk/ria or from the Ministerial Correspondence Unit, HM Revenue and Customs, Yorke House, Castle Meadow, Nottingham.