The order replaces certain amounts specified in the Income Tax Act 2007 for the 2013/14 tax year, including the personal allowance for people born after 5 April 1948, the married couple's allowance and the blind person's allowance.
The Regulations prescribe the information to be provided, and the time limits for doing so, in respect of the disclosure regime under the Finance Act 2004, which requires certain tax arrangements and proposals for arrangements to be notified to HM Revenue and Customs.
The Regulations amend the Income Tax (Exemption of Minor Benefits) Regulations 2002 (SI 2002/205), removing tax relief on food or drink given by an employer to an employee who has cycled to work on designated days.
The Order amends reg.4(3) of the Income Tax (Entertainers and Sportsmen) Regulations 1987 (SI 1987/530) by replacing the figure of £1,000 with the amount of the personal allowance for income tax for the year in which the payment or transfer is made.
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