Income Tax (Pay As You Earn) (Amendment) (No.2) Regulations 2011 come into force
Implementation date: 6 April 2011
The Regulations prescribe that where an employer makes payments to an employee after the employment contract has terminated and the payments are not included on the P45, they are taxable using the 0T tax code on a non-cumulative basis. Where the payments are in connection with employment-related securities, they are taxable at the basic rate of tax. The Regulations supersede a provision in the Income Tax (Pay As You Earn) (Amendment) Regulations 2011 (SI 2011/729). The Regulations can be viewed on the UK legislation website.