Income Tax (Earnings and Pensions) Act 2003 section 715

Approval of schemes: regulation by Treasury

Section 715 gives the Treasury the power to make regulations governing the approval and oversight of payroll giving schemes and agents under Part 12 of the Act.

• The Treasury may set out regulations prescribing when HMRC can grant or withdraw approval of a payroll giving scheme, a type of scheme, or an agent
• The conditions for approval or withdrawal can relate to scheme terms, agent qualifications, or any other matters the Treasury considers appropriate
• Regulations may require payers or agents involved in approved schemes to provide specified information to HMRC in defined circumstances
• The Treasury may also make provision for appeals against HMRC decisions to refuse or withdraw approval, and for giving effect to the payroll giving rules in sections 713 and 714