PART 3 Communications

CHAPTER 2 Electronic payment by large employers

Large employers required to make specified payments electronically
6. (1) In regulation 199 (large employers required to make specified payments electronically)—
(a) in paragraph (1) omit “to whom an e-payment notice in respect of a tax year has been issued”,
(b) for paragraph (2) substitute—

“(2) “Specified payments”, in this regulation, means payments of tax under regulation 68 (periodic payments to and recoveries from the Revenue).”

, and
(c) after paragraph (4) insert—

“(5) A specified payment is not treated as received in full by HMRC on or before the date by which that specified payment is required in accordance with regulation 69 unless it is made in a manner which secures (in a case where the specified payment is made otherwise than in cash) that, on or before that date, all transactions can be completed which need to be completed before the whole amount of the specified payment becomes available to the Commissioners for Her Majesty’s Revenue and Customs.”.