Section 695A | Employment income under Part 7A ^F1

(1)This section applies if—^F1

(a)the value of a relevant step counts as employment income under Chapter 2 of Part 7A, and^F1

(b)the relevant step is not the payment of a sum of money,^F1

and references to A and B are to be read accordingly.

(2)For the purposes of PAYE regulations B is treated as making a payment of PAYE income of A of an amount which, on the basis of the best estimate which can reasonably be made, is—^F1

(a)the amount of the employment income, less^F1

(b)so much of that amount (if any) to which section 554Z9(2) or 554Z10(2) applies.^F1

(3)The payment is treated as made on the latest of the following days—^F1

(a)the day on which the relevant step is taken,^F1

(b)the day on which A's employment with B starts, and^F1

(c)the day which is 30 days after the day on which FA 2011 is passed.^F1

(4)Subsection (2) does not apply if the person who takes the relevant step (whether or not a person to whom PAYE regulations apply) accounts for income tax on the relevant step in accordance with PAYE regulations.^F1