Introduction Details of the Section
2.Subsections (1) and (2) insert new section 1ZA into section 684 (PAYE regulations) of ITEPA 2003.
3.New provision 1ZA (a) provides that the Commissioners may make regulations to authorise an employer to deduct or repay income tax through PAYE where the employer provides an amount to an employee that is charged to tax under the benefits code in Part 3 of ITEPA 2003.
4.New provision 1ZA (b) provides for the regulations to specify the time at which any deduction or repayment are to be made.
5.New provision 1ZA (c) provides for the regulations to specify how any deduction or repayment is to be calculated.
6.New provision 1ZA (d) provides a power for the benefit to be treated as PAYE income for the purposes of the regulations.
7.New provision 1ZA (e) provides that regulations may be made to provide that employers who make a deduction or repayment must account for them to the Commissioners.
8.Subsection (3) adds new provision 1ZA to the list in subsection 684(3) ITEPA 2003, which provides for the rates of income tax that an employer will deduct to be set by PAYE regulations.