(1) Section 531AOA of the Principal Act is amended by the insertion of the following subsections after subsection (5):

"(6)

(a) Where an employer makes a return under subsection (2) after the expiry of a period of 4 years commencing at the end of the year of assessment in which the income tax month falls, that employer shall not be entitled in the case of a repayment referred to in Regulation 4 of the Universal Social Charge Regulations 2018 (S.I. No. 510 of 2018) to be paid it, or given credit for it, by the Revenue Commissioners.

(b) Notwithstanding paragraph (a), where, in a return made by an employer under subsection (2), the amount the employer is liable to pay pursuant to Regulation 4 of the Universal Social Charge Regulations 2018 (S.I. No. 510 of 2018) exceeds the amount of a repayment pursuant to the said Regulation 4 then credit may be given by the Revenue Commissioners against the amount the employer is liable to pay in that return.

(7) Where, in relation to a return made under subsection (2) which includes a repayment, the Revenue Commissioners are of the opinion that the requirements of this section have not been met, they shall decide to refuse the repayment and shall notify the employer in writing of the decision and the reasons for it.