The Income Tax (Pay as You Earn) (Amendment) Regulations 2007
These Regulations amend the Income Tax (Pay as You Earn) Regulations 2003 (S.I. 2003/2682: “the PAYE Regulations”) to provide the necessary accounting and reporting mechanisms for payments which are retrospectively re-characterised as employment income for the purposes of the Income Tax (Earnings and Pensions) Act 2003 (c. 1). The first instance of payments being re-characterised in this way is to be found in section 92 of the Finance Act 2006 (c. 25), and followed an announcement made to the House of Commons by the Paymaster-General in a Written Statement on 2nd December 2004 (Hansard Column 45WS of that date).