The Income Tax (Payments on Account) Regulations 1996

• Citation: S.I. 1996/1654
• Sections: 4

Section 1

(1) These Regulations may be cited as the Income Tax (Payments on Account) Regulations 1996 and shall come into force on 17th July 1996.

(2) Regulation 3 shall have effect as respects the year 1996–97 and subsequent years of assessment.

(3) Regulation 4 shall have effect as respects the year 1997–98 and subsequent years of assessment.

Section 2

In these Regulations “subsection (1)” means subsection (1) of section 59A of the Taxes Management Act 1970.

Section 3

The prescribed amount for the purposes of paragraph (c) of subsection (1) is the amount of £500.

Section 4

The prescribed proportion for the purposes of paragraph (d) of subsection (1), that is to say, the proportion which the relevant amount as mentioned in paragraph (c) of subsection (1) bears to the assessed amount as mentioned in paragraph (b) of subsection (1), is the proportion of one to four.