The Income Tax (Employments) (Notional Payments) Regulations 1994
Sections 203B and 203C of the Income and Corporation Taxes Act 1988 (inserted by sections 125 and 126 of the Finance Act 1994) (“the 1988 Act”) extend the scope of PAYE to certain emoluments paid by a person other than the person for whom the employee works. Sections 203F to 203L of the 1988 Act (inserted by sections 127 to 131 of the Finance Act 1994) extend the scope of PAYE to certain emoluments provided in non-cash form for employees. In each such case the emoluments are treated as if they were cash emoluments paid to the employee by the employer (“a notional payment”).