16A Deduction of tax in respect of notional payments.

[The obligation on an employer to deduct tax in respect of a notional payment shall have effect as an obligation to deduct tax due on that payment from any payment or payments of emoluments actually made by the employer to or on behalf of the employee on—

(a) the day the notional payment is made, or

(b) if there is no actual payment of emoluments made to the employee on that day, the next pay day following the time when the notional payment is made,

and where, by reason of an insufficiency of payments of emoluments actually made to or on behalf of the employee, the employer is liable to remit under section 985A(4) of the Principal Act an amount of income tax which the employer was unable to deduct from such payments, the employer shall be liable to remit that amount of tax to the Revenue Commissioners as if the amount to be remitted had been deducted in accordance with this Regulation.]¹