The Finance Act 2006 (Section 94(5)) (PAYE: Retrospective Notional Payments -- Appointment of Substituted Date) Order 2007

Made

28th March 2007

The Commissioners for Her Majesty's Revenue and Customs make the following Order in exercise of the powers conferred upon them by section 94(5) of the Finance Act 2006(1).

Citation

1. This Order may be cited as the Finance Act 2006 (Section 94(5)) (PAYE: Retrospective Notional Payments -- Appointment of Substituted Date) Order 2007.

Appointment of substituted date for the purposes of Finance Act 2006. s. 94(5)

2. 6th April 2007 is appointed as the date substituted, in place of that on which the Finance Act 2006 was passed, for the purposes of the provisions specified in section 94(5) of that Act.

Paul Gray

Dave Hartnett

Two of the Commissioners for Her Majesty's Revenue and Customs

28th March 2007

EXPLANATORY NOTE

(This note is not part of the Order)

This Order appoints 6th April 2007 as the date substituted, by virtue of section 94(5) of the Finance Act 2006 (c. 25), in place of 19th July 2006 (the date on which that Act was passed), as the date on which notional payments, retrospectively re-characterised as employment income by virtue of the amendments made by section 92 of that Act, are to be treated as having been paid.

Article 1 provides for the citation of the instrument.

Article 2 appoints the date.

This Order does not impose new costs on business.

( 1 )

2006 c. 25. Back [1]

-- Back --

Stat