The Income Tax (Pay As You Earn) (Amendment No. 3) Regulations 2007
These Regulations correct an error in the Income Tax (Pay as You Earn) (Amendment No. 2) Regulations 2007 (S.I. 2007/2069) (“the 2007 Regulations”), which insert a new Chapter 4 into Part 4 of the Income Tax (Pay as You Earn) Regulations 2003 (S.I. 2003/2682) (“the PAYE Regulations”). The new Chapter, consisting of regulations 97A to 97L, deals with debts of managed service companies. However, regulation 97D(8) of the PAYE Regulations refers to a period of 12 months, and not (as was intended) to a period of three months. These Regulations correct that error.