The Income Tax (Pay As You Earn) (Amendment No. 3) Regulations 2026
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Change 1
6 Amendment of the Income Tax (Pay As You Earn) Regulations 2003
After regulation 61G (method of calculating the cash equivalent or relevant amount of non-cash vouchers, credit-tokens and employment-related benefits), insert— Method of calculating the cash equivalent of living accommodation 61GA (1) Where the specified benefit is living accommodation, the cash equivalent or relevant amount of the specified benefit is to be calculated in accordance with section 103 or 103A of ITEPA, as the case may be. (2) For the purposes of paragraph (1), the authorised employer may make reasonable assumptions, based on a contract or agreement made with the specified employee, about information that is necessary for the calculation but that is not known on the date the calculation is made. Method of calculating the cash equivalent of loans 61GB (1) Where the specified benefit is a loan, the cash equivalent or relevant amount of the specified benefit is to be calculated in accordance with section 175 or 175A of ITEPA, as the case may be. (2) For the purposes of paragraph (1), the authorised employer may make reasonable assumptions, based on a contract or agreement made with the specified employee, about information that is necessary for the calculation but that is not known on the date the calculation is made. .
6 Amendment of the Income Tax (Pay As You Earn) Regulations 2003
After regulation 61G (method of calculating the cash equivalent or relevant amount of non-cash vouchers, credit-tokens and employment-related benefits), insert— Method of calculating the cash equivalent of living accommodation 61GA (1) Where the specified benefit is living accommodation, the cash equivalent or relevant amount of the specified benefit is to be calculated in accordance with section 103 or 103A of ITEPA, as the case may be. (2) For the purposes of paragraph (1), the authorised employer may make reasonable assumptions, based on a contract or agreement made with the specified employee, about information that is necessary for the calculation but that is not known on the date the calculation is made. Method of calculating the cash equivalent of loans 61GB (1) Where the specified benefit is a loan, the cash equivalent or relevant amount of the specified benefit is to be calculated in accordance with section 175 or 175A of ITEPA, as the case may be. (2) For the purposes of paragraph (1), the authorised employer may make reasonable assumptions, based on a contract or agreement made with the specified employee, about information that is necessary for the calculation but that is not known on the date the calculation is made. .
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