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Income Tax (Earnings and Pensions) Act 2003 (c. 1)

(The document as of February, 2008)

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Income Tax (Earnings and Pensions) Act 2003

2003 CHAPTER 1

CONTENTS

Content
  1. Part 1

    Overview

    1. 1. Overview of contents of this Act

    2. 2. Abbreviations and general index in Schedule 1

  2. Part 2

    Employment income: charge to tax

    1. Chapter 1

      Introduction

      1. 3. Structure of employment income Parts

      2. 4. "Employment" for the purposes of the employment income Parts

      3. 5. Application to offices and office-holders

    2. Chapter 2

      Tax on employment income

      1. 6. Nature of charge to tax on employment income

      2. 7. Meaning of "employment income", "general earnings" and "specific employment income"

      3. 8. Meaning of "exempt income"

    3. Chapter 3

      Operation of tax charge

      1. 9. Amount of employment income charged to tax

      2. 10. Meaning of "taxable earnings" and "taxable specific income"

      3. 11. Calculation of "net taxable earnings"

      4. 12. Calculation of "net taxable specific income"

      5. 13. Person liable for tax

    4. Chapter 4

      Taxable earnings: rules applying to employee resident, ordinarily resident and domiciled in UK

      1. Taxable earnings

        1. 14. Taxable earnings under this Chapter: introduction

      2. Employees resident, ordinarily resident and domiciled in UK

        1. 15. Earnings for year when employee resident, ordinarily resident and domiciled in UK

      3. Year for which general earnings are earned

        1. 16. Meaning of earnings "for" a tax year

        2. 17. Treatment of earnings for year in which employment not held

      4. When general earnings are received

        1. 18. Receipt of money earnings

        2. 19. Receipt of non-money earnings

    5. Chapter 5

      Taxable earnings: rules applying to employee resident, ordinarily resident or domiciled outside UK

      1. Taxable earnings

        1. 20. Taxable earnings under this Chapter: introduction

      2. Employees resident and ordinarily resident in UK

        1. 21. Earnings for year when employee resident and ordinarily resident, but not domiciled, in UK, except chargeable overseas earnings

        2. 22. Chargeable overseas earnings for year when employee resident and ordinarily resident, but not domiciled, in UK

        3. 23. Calculation of "chargeable overseas earnings"

        4. 24. Limit on chargeable overseas earnings where duties of associated employment performed in UK

      3. Employees resident but not ordinarily resident in UK

        1. 25. UK-based earnings for year when employee resident, but not ordinarily resident, in UK

        2. 26. Foreign earnings for year when employee resident, but not ordinarily resident, in UK

      4. Employees not resident in UK

        1. 27. UK-based earnings for year when employee not resident in UK

      5. Special class of earnings for purposes of sections 25 to 27

        1. 28. Meaning of "general earnings from overseas Crown employment subject to UK tax"

      6. Year for which general earnings are earned

        1. 29. Meaning of earnings "for" a tax year

        2. 30. Treatment of earnings for year in which employment not held

      7. When general earnings are received or remitted

        1. 31. Receipt of money earnings

        2. 32. Receipt of non-money earnings

        3. 33. Earnings remitted to UK

        4. 34. Earnings remitted to UK: further provisions about UK-linked debts

      8. Relief for delayed remittances

        1. 35. Relief for delayed remittances

        2. 36. Election in respect of delayed remittances

        3. 37. Claims for relief on delayed remittances

      9. Place of performance of duties of employment

        1. 38. Earnings for period of absence from employment

        2. 39. Duties in UK merely incidental to duties outside UK

        3. 40. Duties on board vessel or aircraft

        4. 41. Employment in UK sector of continental

    6. Chapter 6

      Disputes as to domicile or ordinary residence

      1. 42. Board to determine dispute as to domicile or ordinary residence

      2. 43. Appeal against Board's decision on domicile or ordinary residence

    7. Chapter 7

      Application of provisions to agency workers

      1. Agency workers

        1. 44. Treatment of workers supplied by agencies

        2. 45. Arrangements with agencies

        3. 46. Cases involving unincorporated bodies etc.

      2. Supplementary

        1. 47. Interpretation of this Chapter

    8. Chapter 8

      Application of provisions to workers under arrangements made by intermediaries

      1. Application of this Chapter

        1. 48. Scope of this Chapter

        2. 49. Engagements to which this Chapter applies

        3. 50. Worker treated as receiving earnings from employment

        4. 51. Conditions of liability where intermediary is a company

        5. 52. Conditions of liability where intermediary is a partnership

        6. 53. Conditions of liability where intermediary is an individual

      2. The deemed employment payment

        1. 54. Calculation of deemed employment payment

        2. 55. Application of rules relating to earnings from employment

        3. 56. Application of Income Tax Acts in relation to deemed employment

      3. Supplementary provisions

        1. 57. Earlier date of deemed employment payment in certain cases

        2. 58. Relief in case of distributions by intermediary

        3. 59. Provisions applicable to multiple intermediaries

        4. 60. Meaning of "associate"

        5. 61. Interpretation

  3. Part 3

    Employment income: earnings and benefits etc. treated as earnings

    1. Chapter 1

      Earnings

      1. 62. Earnings

    2. Chapter 2

      Taxable benefits: the benefits code

      1. The benefits code

        1. 63. The benefits code

        2. 64. Relationship between earnings and benefits code

        3. 65. Dispensations relating to benefits within provisions not applicable to lower-paid employment

      2. General definitions for benefits code

        1. 66. Meaning of "employment" and related expressions

        2. 67. Meaning of "director" and "full-time working director"

        3. 68. Meaning of "material interest" in a company

        4. 69. Extended meaning of "control"

    3. Chapter 3

      Taxable benefits: expenses payments

      1. 70. Sums in respect of expenses

      2. 71. Meaning of paid or put at disposal by reason of the employment

      3. 72. Sums in respect of expenses treated as earnings

    4. Chapter 4

      Taxable benefits: vouchers and credit-tokens

      1. Cash vouchers: introduction

        1. 73. Cash vouchers to which this Chapter applies

        2. 74. Provision for, or receipt by, member of employee's family

      2. Meaning of "cash voucher"

        1. 75. Meaning of "cash voucher"

        2. 76. Sickness benefits-related voucher

        3. 77. Apportionment of cost of provision of voucher

      3. Cash vouchers: exceptions

        1. 78. Voucher made available to public generally

        2. 79. Voucher issued under approved scheme

        3. 80. Vouchers where payment of sums exempt from tax

      4. Benefit of cash voucher treated as earnings

        1. 81. Benefit of cash voucher treated as earnings

      5. Non-cash vouchers: introduction

        1. 82. Non-cash vouchers to which this Chapter applies

        2. 83. Provision for, or receipt by, member of employee's family

      6. Meaning of "non-cash voucher"

        1. 84. Meaning of "non-cash voucher"

      7. Non-cash voucher: exceptions

        1. 85. Non-cash voucher made available to public generally

        2. 86. Transport vouchers under pre-26th March 1982 arrangements

      8. Benefit of non-cash voucher treated as earnings

        1. 87. Benefit of non-cash voucher treated as earnings

        2. 88. Year in which earnings treated as received

        3. 89. Reduction for meal vouchers

      9. Credit-tokens: introduction

        1. 90. Credit-tokens to which this Chapter applies

        2. 91. Provision for, or use by, member of employee's family

      10. Meaning of "credit-token"

        1. 92. Meaning of "credit-token"

      11. Credit-tokens: exception

        1. 93. Credit-token made available to public generally

      12. Benefit of credit-token treated as earnings

        1. 94. Benefit of credit-token treated as earnings

      13. General supplementary provisions

        1. 95. Disregard for money, goods or services obtained

        2. 96. Dispensations relating to vouchers or credit-tokens

    5. Chapter 5

      Taxable benefits: living accommodation

      1. Living accommodation

        1. 97. Living accommodation to which this Chapter applies

      2. Exceptions

        1. 98. Accommodation provided by local authority

        2. 99. Accommodation provided for performance of duties

        3. 100. Accommodation provided as result of security threat

        4. 101. Chevening House

      3. Benefit of living accommodation treated as earnings

        1. 102. Benefit of living accommodation treated as earnings

      4. Calculation of cash equivalent

        1. 103. Method of calculating cash equivalent

        2. 104. General rule for calculating cost of providing accommodation

      5. Accommodation costing £75,000 or less

        1. 105. Cash equivalent: cost of accommodation not over £75,000

      6. Accommodation costing more than £75,000

        1. 106. Cash equivalent: cost of accommodation over £75,000

        2. 107. Special rule for calculating cost of providing accommodation

      7. Apportionment of cash equivalent

        1. 108. Cash equivalent: accommodation provided for more than one employee

      8. Other tax implications

        1. 109. Priority of this Chapter over Chapter 1 of this Part

      9. Supplementary

        1. 110. Meaning of "annual value"

        2. 111. Disputes as to annual value

        3. 112. Meaning of "person involved in providing the accommodation"

        4. 113. Meaning of "the property"

    6. Chapter 6

      Taxable benefits: cars, vans and related benefits

      1. General

        1. 114. Cars, vans and related benefits

        2. 115. Meaning of "car" and "van"

        3. 116. Meaning of when car or van is available to employee

        4. 117. Meaning of car or van made available by reason of employment

        5. 118. Availability for private use

        6. 119. Where alternative to benefit of car offered

      2. Cars: benefit treated as earnings

        1. 120. Benefit of car treated as earnings

        2. 121. Method of calculating the cash equivalent of the benefit of a car

      3. Cars: the price of a car

        1. 122. The price of the car

        2. 123. The list price of a car

        3. 124. The notional price of a car with no list price

      4. Cars: treatment of accessories

        1. 125. Meaning of "accessory" and related terms

        2. 126. Amounts taken into account in respect of accessories

        3. 127. The list price of an accessory

        4. 128. Accessory: published price of the car manufacturer etc.

        5. 129. Accessory: published price of the accessory manufacturer etc.

        6. 130. The notional price of an accessory

        7. 131. Replacement accessories

      5. Cars: capital contributions by employee

        1. 132. Capital contributions by employee

      6. Cars: the appropriate percentage

        1. 133. How to determine the "appropriate percentage"

        2. 134. Meaning of car with or without a CO2 emissions figure

      7. Cars: appropriate percentage: first registered on or after 1st January 1998

        1. 135. Car with a CO2 emissions figure: pre-October 1999 registration

        2. 136. Car with a CO2 emissions figure: post-September 1999 registration

        3. 137. Car with a CO2 emissions figure: bi-fuel cars

        4. 138. Car with a CO2 emissions figure: automatic car for a disabled employee

        5. 139. Car with a CO2 emissions figure: the appropriate percentage

        6. 140. Car without a CO2 emissions figure years of age or more">147. Classic cars: 15 years of age or more

      8. Cars: reduction where shared car

        1. 148. Reduction of cash equivalent where car is shared

      9. Car fuel: benefit treated as earnings

        1. 149. Benefit of car fuel treated as earnings

        2. 150. Car fuel: calculating the cash equivalent

        3. 151. Car fuel: nil cash equivalent

        4. 152. Car fuel: proportionate reduction of cash equivalent

        5. 153. Car fuel: reduction of cash equivalent

      10. Vans: benefit treated as earnings

        1. 154. Benefit of van treated as earnings

        2. 155. Method of calculating the cash equivalent of the benefit of a van

        3. 156. Meaning of "shared van"

      11. Vans: value of exclusive availability

        1. 157. Value of exclusive availability

        2. 158. Deduction for periods of unavailability or shared use

        3. 159. Deduction for payments for private use

      12. Vans: value of shared availability

        1. 160. Value of shared availability

        2. 161. Value of shared availability: normal calculation

        3. 162. Shared van: meaning of "participating employee"

        4. 163. Shared van: basic value

        5. 164. Value of shared availability: alternative calculation

        6. 165. Deduction for payments for private use

      13. Vans: limit of cash equivalent

        1. 166. Vans: limit of cash equivalent

      14. Cars and vans: exceptions

        1. 167. Pooled cars

        2. 168. Pooled vans

        3. 169. Car available to more than one member of family or household employed by same employer

      15. Orders

        1. 170. Orders etc. relating to this Chapter

      16. Supplementary

        1. 171. Minor definitions: general

        2. 172. Minor definitions: equipment to enable a disabled person to use a car

    7. Chapter 7

      Taxable benefits: loans

      1. Introduction

        1. 173. Loans to which this Chapter applies

        2. 174. Employment-related loans

      2. Benefit of taxable cheap loan treated as earnings

        1. 175. Benefit of taxable cheap loan treated as earnings

        2. 176. Exception for loans on ordinary commercial terms

        3. 177. Exceptions for loans at fixed rate of interest

        4. 178. Exception for loans where interest qualifies for tax relief

        5. 179. Exception for certain advances for necessary expenses

        6. 180. Threshold for benefit of loan to be treated as earnings

      3. Calculation of amount of interest at official rate

        1. 181. The official rate of interest

        2. 182. Normal method of calculation: averaging

        3. 183. Alternative method of calculation

      4. Supplementary provisions relating to taxable cheap loans

        1. 184. Interest treated as paid

        2. 185. Apportionment of cash equivalent in case of joint loan etc.

        3. 186. Replacement loans

        4. 187. Aggregation of loans by close company to director

      5. Loan released or written off

        1. 188. Loan released or written off: amount treated as earnings

        2. 189. Exception where double charge

      6. General supplementary provisions

        1. 190. Exclusion of charge after death of employee

        2. 191. Claim for relief to take account of event after assessment

    8. Chapter 8

      Taxable benefits: notional loans in respect of acquisitions of shares

      1. Introduction

        1. 192. Application of this Chapter

      2. Acquisition of shares for less than market value

        1. 193. Notional loan where acquisition for less than market value

        2. 194. The amount of the notional loan

        3. 195. Discharge of notional loan: amount treated as earnings

      3. Supplementary provisions

        1. 196. Effects on other income tax charges

        2. 197. Minor definitions

    9. Chapter 9

      Taxable benefits: disposals of shares for more than market value

      1. 198. Shares to which this Chapter applies

      2. 199. Disposal for more than market value: amount treated as earnings

      3. 200. Minor definitions

    10. Chapter 10

      Taxable benefits: residual liability to charge

      1. Introduction

        1. 201. Employment-related benefits

        2. 202. Excluded benefits

      2. Cash equivalent of benefit treated as earnings

        1. 203. Cash equivalent of benefit treated as earnings

      3. Determination of the cost of the benefit

        1. 204. Cost of the benefit: basic rule

        2. 205. Cost of the benefit: asset made available without transfer

        3. 206. Cost of the benefit: transfer of used or depreciated asset

      4. Supplementary provisions

        1. 207. Meaning of "annual rental value"

        2. 208. Meaning of "market value"

        3. 209. Meaning of "persons providing benefit"

        4. 210. Power to exempt minor benefits

      5. Special rules for scholarships

        1. 211. Special rules for scholarships: introduction

        2. 212. Scholarships provided under arrangements entered into by employer or connected person

        3. 213. Exception for certain scholarships under trusts or schemes

        4. 214. Scholarships: cost of the benefit

        5. 215. Limitation of exemption for scholarship income in section 331 of ICTA

    11. Chapter 11

      Taxable benefits: exclusion of lower-paid employments from parts of benefits code

      1. Introduction

        1. 216. Provisions not applicable to lower-paid employments

      2. What is lower-paid employment

        1. 217. Meaning of "lower-paid employment"

        2. 218. Calculation of earnings rate for a tax year

        3. 219. Extra amounts to be added in connection with a car

      3. Treatment of related employments

        1. 220. Related employments

    12. Chapter 12

      Payments treated as earnings

      1. 221. Payments where employee absent because of sickness or disability

      2. 222. Payments by employer on account of tax where deduction not possible

      3. 223. Payments on account of director's tax other than by the director

      4. 224. Payments to non-approved personal pension arrangements

      5. 225. Payments for restrictive undertakings

      6. 226. Valuable consideration given for restrictive undertakings

  4. Part 4

    Employment income: exemptions

    1. Chapter 1

      Exemptions: general

      1. 227. Scope of Part 4

      2. 228. Effect of exemptions on liability under provisions outside Part 2

    2. Chapter 2

      Exemptions: mileage allowances and passenger payments

      1. Mileage allowances

        1. 229. Mileage allowance payments

        2. 230. The approved amount for mileage allowance payments

        3. 231. Mileage allowance relief

        4. 232. Giving effect to mileage allowance relief

      2. Passenger payments

        1. 233. Passenger payments

        2. 234. The approved amount for passenger payments

      3. Supplementary

        1. 235. Vehicles to which this Chapter applies

        2. 236. Interpretation of this Chapter

    3. Chapter 3

      Exemptions: other transport, travel and subsistence

      1. 237. Parking provision and expenses

      2. 238. Modest private use of heavy goods vehicles

      3. 239. Payments and benefits connected with taxable cars and vans and exempt heavy goods vehicles

      4. 240. Incidental overnight expenses and benefits

      5. 241. Incidental overnight expenses and benefits: overall exemption limit

      6. 242. Works transport services

      7. 243. Support for public bus services

      8. 244. Cycles and cyclist's safety equipment

      9. 245. Travelling and subsistence during public transport strikes

      10. 246. Transport between work and home for disabled employees: general

      11. 247. Provision of cars for disabled employees

      12. 248. Transport home: late night working and failure of car-sharing arrangements

      13. 249. Interpretation of this Chapter

    4. Chapter 4

      Exemptions: education and training

      1. Work-related training

        1. 250. Exemption of work-related training provision

        2. 251. Meaning of "work-related training"

        3. 252. Exception for non-deductible travel expenses

        4. 253. Exception where provision for excluded purposes

        5. 254. Exception where unrelated assets are provided

      2. Individual learning account training

        1. 255. Exemption for contributions to individual learning account training

        2. 256. Meaning of "individual learning account training"

        3. 257. Exception for non-deductible travel expenses

        4. 258. Exception where provision for excluded purposes

        5. 259. Exception where unrelated assets are provided

        6. 260. Exception where training not generally available to staff

    5. Chapter 5

      Exemptions: recreational benefits

      1. Recreational facilities

        1. 261. Exemption of recreational benefits

        2. 262. Benefits not exempted by section 261

        3. 263. Power to alter benefits to which section 261 applies

      2. Annual parties and functions

        1. 264. Annual parties and functions

      3. Entertainment

        1. 265. Third party entertainment

    6. Chapter 6

      Exemptions: non-cash vouchers and credit-tokens

      1. General exemptions: use for exempt benefits

        1. 266. Exemption of non-cash vouchers for exempt benefits

        2. 267. Exemption of credit-tokens used for exempt benefits

      2. Exemptions for particular non-cash vouchers and credit-tokens

        1. 268. Exemption of vouchers and tokens for incidental overnight expenses

        2. 269. Exemption where benefits or money obtained in connection with taxable car or van or exempt heavy goods vehicle

        3. 270. Exemption for small gifts of vouchers and tokens from third parties

    7. Chapter 7

      Exemptions: removal benefits and expenses

      1. Exemption of removal benefits and expenses: general

        1. 271. Limited exemption of removal benefits and expenses: general

        2. 272. Removal benefits and expenses to which section 271 applies

        3. 273. Conditions applicable to change of residence

        4. 274. Meaning of "the limitation day"

        5. 275. Meaning of "the employment change"

        6. 276. Meaning of "residence", "former residence" and "new residence" etc.

      2. Benefits and expenses within this Chapter

        1. 277. Acquisition benefits and expenses

        2. 278. Abortive acquisition benefits and expenses

        3. 279. Disposal benefits and expenses

        4. 280. Transporting belongings

        5. 281. Travelling and subsistence

        6. 282. Exclusion from section 281 of benefits and expenses where deduction allowed

        7. 283. Exclusion from section 281 of taxable car and van facilities

        8. 284. Bridging loan expenses

        9. 285. Replacement of domestic goods

        10. 286. Power to amend sections 279 to 285

      3. Limit on exemption

        1. 287. Limit on exemption

      4. Special exemption and relief for bridging loans

        1. 288. Limited exemption of certain bridging loans connected with employment moves

        2. 289. Relief for certain bridging loans not qualifying for exemption under section 288

    8. Chapter 8

      Exemptions: special kinds of employees

      1. Ministers of religion

        1. 290. Accommodation benefits of ministers of religion

      2. MPs, government ministers etc.

        1. 291. Termination payments to MPs and others ceasing to hold office

        2. 292. Overnight expenses allowances of MPs

        3. 293. Overnight expenses of other elected representatives

        4. 294. EU travel expenses of MPs and other representatives

        5. 295. Transport and subsistence for Government ministers etc.

      3. Armed forces

        1. 296. Armed forces' leave travel facilities

        2. 297. Armed forces' food, drink and mess allowances

        3. 298. Reserve and auxiliary forces' training allowances

      4. Crown employees

        1. 299. Crown employees' foreign service allowances

      5. Consuls, foreign agents etc.

        1. 300. Consuls

        2. 301. Official agents

        3. 302. Consular employees

      6. Visiting forces and staff of designated allied headquarters

        1. 303. Visiting forces and staff of designated allied headquarters

      7. Detached national experts

        1. 304. Experts seconded to European Commission

      8. Offshore oil and gas workers

        1. 305. Offshore oil and gas workers: mainland transfers

      9. Miners etc.

        1. 306. Miners etc: coal and allowances in lieu of coal

    9. Chapter 9

      Exemptions: pension provision

      1. 307. Death or retirement benefit provision

      2. 308. Exemption of contributions to approved personal pension arrangements

    10. Chapter 10

      Exemptions: termination of employment

      1. Redundancy payments

        1. 309. Limited exemptions for statutory redundancy payments

      2. Outplacement benefits

        1. 310. Counselling and other outplacement services

        2. 311. Retraining courses

        3. 312. Recovery of tax

    11. Chapter 11

      Miscellaneous exemptions

      1. Living accommodation

        1. 313. Repairs and alterations to living accommodation

        2. 314. Council tax etc. paid for certain living accommodation

        3. 315. Limited exemption for expenses connected with certain living accommodation

      2. Work accommodation, supplies etc.

        1. 316. Accommodation, supplies and services used in employment duties

      3. Workplace meals

        1. 317. Subsidised meals

      4. Childcare

        1. 318. Care for children

      5. Telephones and computer equipment

        1. 319. Mobile telephones

        2. 320. Limited exemption for computer equipment

      6. Awards and gifts

        1. 321. Suggestion awards

        2. 322. Suggestion awards: "the permitted maximum"

        3. 323. Long service awards

        4. 324. Small gifts from third parties

      7. Overseas medical treatment

        1. 325. Overseas medical treatment

      8. Expenses incidental to sale etc. of asset

        1. 326. Expenses incidental to transfer of a kind not normally met by transferor

  5. Part 5

    Employment income: deductions allowed from earnings

    1. Chapter 1

      Deductions allowed from earnings: general rules

      1. Introduction

        1. 327. Deductions from earnings: general

      2. General rules

        1. 328. The income from which deductions may be made

        2. 329. Deductions from earnings not to exceed earnings

        3. 330. Prevention of double deductions

        4. 331. Order for making deductions

        5. 332. Meaning of "the deductibility provisions"

    2. Chapter 2

      Deductions for employee's expenses

      1. Introduction

        1. 333. Scope of this Chapter: expenses paid by the employee

        2. 334. Effect of reimbursement etc.

        3. 335. Application of deductions provisions: "earnings charged on receipt" and "earnings charged on remittance"

      2. General rule for deduction of employee's expenses

        1. 336. Deductions for expenses: the general rule

      3. Travel expenses

        1. 337. Travel in performance of duties

        2. 338. Travel for necessary attendance

        3. 339. Meaning of "workplace" and "permanent workplace"

        4. 340. Travel between group employments

        5. 341. Travel at start or finish of overseas employment

        6. 342. Travel between employments where duties performed abroad

      4. Fees and subscriptions

        1. 343. Deduction for professional membership fees

        2. 344. Deduction for annual subscriptions

        3. 345. Decisions of the Inland Revenue under section 344

      5. Employee liabilities and indemnity insurance

        1. 346. Deduction for employee liabilities

        2. 347. Payments made after leaving the employment

        3. 348. Liabilities related to the employment

        4. 349. Meaning of "qualifying insurance contract"

        5. 350. Connected contracts

      6. Expenses of ministers of religion

        1. 351. Expenses of ministers of religion

      7. Agency fees paid by entertainers

        1. 352. Limited deduction for agency fees paid by entertainers

      8. Special rules for earnings with a foreign element

        1. 353. Deductions from earnings charged on remittance

        2. 354. Disallowance of expenses relating to earnings taxed on different basis or untaxed

        3. 355. Deductions for corresponding payments by non-domiciled employees with foreign employers

      9. Disallowance of business entertainment and gifts expenses

        1. 356. Disallowance of business entertainment and gifts expenses

        2. 357. Business entertainment and gifts: exception where employer's expenses disallowed

    3. Chapter 3

      Deductions from benefits code earnings

      1. Introduction

        1. 361. Scope of this Chapter: cost of benefits deductible as if paid by employee

      2. Deductions where amounts treated as earnings under the benefits code

        1. 362. Deductions where non-cash voucher provided

        2. 363. Deductions where credit-token provided

        3. 364. Deductions where living accommodation provided

        4. 365. Deductions where employment-related benefit provided

    4. Chapter 4

      Fixed allowances for employee's expenses

      1. Introduction

        1. 366. Scope of this Chapter: amounts fixed by Treasury

      2. Fixed sum deductions

        1. 367. Fixed sum deductions for repairing and maintaining work equipment

        2. 368. Fixed sum deductions from earnings payable out of public revenue

    5. Chapter 5

      Deductions for earnings representing benefits or reimbursed expenses

      1. Introduction

        1. 369. Scope of this Chapter: earnings representing benefits or reimbursed expenses

      2. Travel costs and expenses where duties performed abroad

        1. 370. Travel costs and expenses where duties performed abroad: employee's travel

        2. 371. Travel costs and expenses where duties performed abroad: visiting spouse's or child's travel

        3. 372. Where seafarers' duties are performed

      3. Travel costs and expenses of non-domiciled employees where duties performed in UK

        1. 373. Non-domiciled employee's travel costs and expenses where duties performed in UK

        2. 374. Non-domiciled employee's spouse's or child's travel costs and expenses where duties performed in UK

        3. 375. Meaning of "qualifying arrival date"

      4. Foreign accommodation and subsistence costs and expenses

        1. 376. Foreign accommodation and subsistence costs and expenses (overseas employments)

      5. Personal security assets and services

        1. 377. Costs and expenses in respect of personal security assets and services

    6. Chapter 6

      Deductions from seafarers' earnings

      1. 378. Deduction from seafarers' earnings: eligibility

      2. 379. Calculating the deduction

      3. 380. Limit on deduction where UK duties etc. make amount unreasonable

      4. 381. Taking account of other deductions

      5. 382. Duties on board ship

      6. 383. Place of performance of incidental duties

      7. 384. Meaning of employment "as a seafarer"

      8. 385. Meaning of "ship"

  6. Part 6

    Employment income: income which is not earnings or share-related

    1. Chapter 1

      Payments to non-approved pension schemes

      1. 386. Charge on payments to non-approved retirement benefits schemes

      2. 387. Meaning of "non-approved retirement benefits scheme"

      3. 388. Apportionment of payments in respect of more than one employee

      4. 389. Exception: employments where earnings charged on remittance

      5. 390. Exception: non-domiciled employees with foreign employers

      6. 391. Exception: seafarers with overseas earnings

      7. 392. Relief where no benefits are paid or payable

    2. Chapter 2

      Benefits from non-approved pension schemes

      1. Benefits treated as employment income

        1. 393. Application of this Chapter

        2. 394. Charge on benefit to which this Chapter applies

        3. 395. Application of sections 396 and 397: general rules

        4. 396. Certain lump sums not taxed by virtue of section 394

        5. 397. Certain lump sums: calculation of amount taxed by virtue of section 394

      2. Valuation of benefits etc.

        1. 398. Valuation of benefits

        2. 399. Employment-related loans: interest treated as paid

      3. Interpretation

        1. 400. Interpretation

    3. Chapter 3

      Payments and benefits on termination of employment etc.

      1. Preliminary

        1. 401. Application of this Chapter

        2. 402. Meaning of "benefit"

      2. Payments and benefits treated as employment income

        1. 403. Charge on payment or other benefit

        2. 404. How the £30,000 threshold applies

      3. Exceptions and reductions

        1. 405. Exception for certain payments exempted when received as earnings

        2. 406. Exception for death or disability payments and benefits

        3. 407. Exception for payments and benefits under tax-exempt pension schemes

        4. 408. Exception for contributions to tax-exempt pension schemes

        5. 409. Exception for payments and benefits in respect of employee liabilities and indemnity insurance

        6. 410. Exception for payments and benefits in respect of employee liabilities and indemnity insurance: individual deceased

        7. 411. Exception for payments and benefits for forces

        8. 412. Exception for payments and benefits provided by foreign governments etc.

        9. 413. Exception in certain cases of foreign service

        10. 414. Reduction in other cases of foreign service

      4. General and supplementary provisions

        1. 415. Valuation of benefits

        2. 416. Notional interest treated as paid if amount charged for beneficial loan

  7. Part 7

    Employment income: share-related income and exemptions

    1. Chapter 1

      Introduction

      1. 417. Scope of Part 7

      2. 418. Other provisions about share-related income and exemptions

      3. 419. Duties to provide information

      4. 420. Negative amounts treated as nil

      5. 421. Application of Part 7 to office-holders

    2. Chapter 2

      Conditional interests in shares

      1. Introduction

        1. 422. Application of this Chapter

        2. 423. Interests in shares acquired "as a director or employee"

        3. 424. Meaning of interest being "only conditional"

        4. 425. Cases where this Chapter does not apply

      2. Tax exemption

        1. 426. No charge in respect of acquisition of employee's interest in certain circumstances

      3. Tax charge

        1. 427. Charge on interest in shares ceasing to be only conditional or on disposal

        2. 428. Amount of charge

      4. Supplementary provisions

        1. 429. Amount or value of consideration given for employee's interest

        2. 430. Amount or value of consideration given for right to acquire shares

        3. 431. Application of this Chapter where employee dies

        4. 432. Duty to notify provision of conditional interests in shares

        5. 433. Duty to notify events resulting in charges under section 427

        6. 434. Minor definitions

    3. Chapter 3

      Convertible shares

      1. Introduction

        1. 435. Application of this Chapter

        2. 436. Shares acquired "as a director or employee"

        3. 437. Cases where this Chapter does not apply

      2. Tax charge

        1. 438. Charge on conversion of shares

        2. 439. Amount of charge

        3. 440. Case outside charge under section 438: conversion of entire class

        4. 441. Case outside charge under section 438: acquisition of conditional interest

      3. Supplementary provisions

        1. 442. Amount or value of consideration given for shares or conversion

        2. 443. Amount or value of consideration given for right to acquire shares

        3. 444. Conversion in consequence of employee's death

        4. 445. Duty to notify conversions of shares

        5. 446. Minor definitions

    4. Chapter 4

      Post-acquisition benefits from shares

      1. Introduction

        1. 447. Application of this Chapter

        2. 448. Cases where this Chapter does not apply

      2. Tax charge where restrictions or rights varied

        1. 449. Charge on occurrence of chargeable event

        2. 450. Chargeable events

        3. 451. Amount of charge

        4. 452. Cases outside charge under section 449

      3. Tax charge on increase in value of shares of dependent subsidiaries

        1. 453. Charge on increase in value of shares of dependent subsidiary

        2. 454. Chargeable increases

        3. 455. Amount of charge

        4. 456. Cases outside charge under section 453

      4. Tax charge on other benefits from shares

        1. 457. Charge on other chargeable benefits from shares

        2. 458. Chargeable benefits

        3. 459. Amount of charge

        4. 460. Cases outside charge under section 457

      5. Supplementary provisions

        1. 461. Related acquisitions of additional shares

        2. 462. Company reorganisations etc.

        3. 463. Disposals of shares to connected persons etc. ignored

        4. 464. Application to interests in shares

        5. 465. Duty to notify acquisitions of shares or interests in shares

        6. 466. Duty to notify chargeable events and chargeable benefits

      6. Interpretation

        1. 467. Meaning of "dependent subsidiary"

        2. 468. Meaning of "employee-controlled"

        3. 469. Shares "held by outside shareholders"

        4. 470. Minor definitions

    5. Chapter 5

      Share options

      1. Introduction

        1. 471. Share options to which this Chapter applies

        2. 472. Introduction to taxation of share options

        3. 473. Share options to which this Chapter does not apply

      2. Receipt of share option

        1. 474. No charge in respect of receipt of shorter-term option

        2. 475. Value of longer-term option for purposes of liability to tax in respect of receipt

      3. Tax charge on exercise, assignment or release of share option

        1. 476. Charge on exercise, assignment or release of option by employee

        2. 477. Charge on employee where option exercised, assigned or released by another person

        3. 478. Amount of charges

        4. 479. Amount of gain realised by exercising option

        5. 480. Amount of gain realised by assigning or releasing option

        6. 481. Deductible amount in respect of secondary Class 1 contributions met by employee

        7. 482. Deductible amount in respect of special contribution met by employee

      4. Supplementary provisions

        1. 483. Extended meaning of "assign" and "release"

        2. 484. Amount or value of consideration given for grant of share option

        3. 485. Application of this Chapter where share option exchanged for another

        4. 486. Duty to notify matters relating to share options

        5. 487. Minor definitions

    6. Chapter 6

      Approved share incentive plans

      1. Introduction

        1. 488. Approved share incentive plans (SIPs)

      2. Scope of tax advantages

        1. 489. Operation of tax advantages in connection with approved SIP

      3. Tax advantages connected with award of shares

        1. 490. No charge on award or acquisition of shares: general

        2. 491. No charge on award of shares as taxable benefit

        3. 492. No charge on partnership share money deducted from salary

        4. 493. No charge on acquisition of dividend shares

      4. Tax advantages connected with holding of shares

        1. 494. No charge on removal of restrictions applying to shares

        2. 495. No charge on increase in value of shares of dependent subsidiary

        3. 496. No charge on cash dividend retained for reinvestment

      5. Tax advantages connected with shares ceasing to be subject to plan

        1. 497. Limitations on charges on shares ceasing to be subject to plan

        2. 498. No charge on shares ceasing to be subject to plan in certain circumstances

      6. Tax advantages: supplementary

        1. 499. No charge in respect of incidental expenditure

      7. Scope of tax charges

        1. 500. Operation of tax charges in connection with approved SIP

      8. Charges connected with holding of shares

        1. 501. Charge on capital receipts in respect of plan shares

        2. 502. Meaning of "capital receipt" in section 501

        3. 503. Charge on partnership share money paid over to employee

        4. 504. Charge on cancellation payments in respect of partnership share agreement

      9. Charges connected with shares ceasing to be subject to plan

        1. 505. Charge on free or matching shares ceasing to be subject to plan

        2. 506. Charge on partnership shares ceasing to be subject to plan

        3. 507. Charge on disposal of beneficial interest during holding period

        4. 508. Identification of shares ceasing to be subject to plan

      10. PAYE

        1. 509. Modification of section 696 where charge on shares ceasing to be subject to pl

    7. Chapter 7

      Approved SAYE option schemes

      1. Introduction

        1. 516. Approved SAYE option schemes

        2. 517. Share options to which this Chapter applies

      2. Tax advantages

        1. 518. No charge in respect of receipt of option

        2. 519. No charge in respect of exercise of option

        3. 520. No charge in respect of post-acquisition benefits

    8. Chapter 8

      Approved CSOP schemes

      1. Introduction

        1. 521. Approved CSOP schemes

        2. 522. Share options to which this Chapter applies

      2. Tax advantages

        1. 523. No charge in respect of receipt of option

        2. 524. No charge in respect of exercise of option

        3. 525. No charge in respect of post-acquisition benefits

      3. Tax charge

        1. 526. Charge where option granted at a discount

    9. Chapter 9

      Enterprise management incentives

      1. Introduction

        1. 527. Enterprise management incentives: qualifying options

      2. Tax advantages: receipt of option

        1. 528. No charge on receipt of qualifying option

      3. Tax advantages: exercise of option

        1. 529. Scope of tax advantages: option must be exercised within 10 years

        2. 530. No charge on exercise of option to acquire shares at market value

        3. 531. Limitation of charge on exercise of option to acquire shares below market value

      4. Tax advantages where disqualifying events

        1. 532. Modified tax consequences following disqualifying events

        2. 533. Disqualifying events

        3. 534. Disqualifying events relating to relevant company

        4. 535. Disqualifying events relating to employee

        5. 536. Other disqualifying events

        6. 537. Alterations of share capital for purposes of section 536

        7. 538. Share conversions excluded for purposes of section 536

        8. 539. CSOP and other options relevant for purposes of section 536

      5. Tax advantages: taxable benefits

        1. 540. No charge on acquisition of shares as taxable benefit

      6. Other income tax consequences

        1. 541. Effects on other income tax charges

    10. Chapter 10

      Priority share allocations

      1. Exemption where offer made to both public and employees

        1. 542. Exemption: offer made to public and employees

        2. 543. Discount not covered by exemption in section 542

      2. Exemption where different offers made to public and employees

        1. 544. Exemption: different offers made to public and employees

        2. 545. Discount not covered by exemption in section 544

      3. Supplementary provisions

        1. 546. Meaning of being entitled "on similar terms"

        2. 547. Meaning and amount or value of "registrant discount"

        3. 548. Minor definitions

    11. Chapter 11

      Supplementary provisions about employee benefit trusts

      1. Introduction

        1. 549. Application of this Chapter

      2. Employee benefit trusts

        1. 550. Meaning of "employee benefit trust"

        2. 551. "Qualifying disposals" for purposes of section 550

      3. Attribution of interests in company

        1. 552. Attribution of interest in company to beneficiary or associate

        2. 553. Meaning of "appropriate percentage" for purposes of section 552

        3. 554. Attribution of further interest in company

  8. Part 8

    Former employees: deductions for liabilities

    1. Deductions from total income

      1. 555. Former employee entitled to deduction from total income

      2. 556. Deductible payments made outside the time limits allowed

      3. 557. Deductible payments wholly or partly borne by the former employer etc.

    2. Interpretation

      1. 558. Meaning of "deductible payment"

      2. 559. Liabilities related to the former employment

      3. 560. Meaning of "qualifying insurance contract"

      4. 561. Connected contracts

      5. 562. Meaning of "former employee" and "employment"

      6. 563. Other interpretation

      7. 564. Application of this Part to office-holders

  9. Part 9

    Pension income

    1. Chapter 1

      Introduction

      1. 565. Structure of Part 9

    2. Chapter 2

      Tax on pension income

      1. 566. Nature of charge to tax on pension income and relevant definitions

      2. 567. Amount charged to tax

      3. 568. Person liable for tax

    3. Chapter 3

      United Kingdom pensions: general rules

      1. 569. United Kingdom pensions

      2. 570. "Pension": interpretation

      3. 571. Taxable pension income

      4. 572. Person liable for tax

    4. Chapter 4

      Foreign pensions: general rules

      1. 573. Foreign pensions

      2. 574. "Pension": interpretation

      3. 575. Taxable pension income

      4. 576. Person liable for tax

    5. Chapter 5

      United Kingdom social security pensions

      1. 577. United Kingdom social security pensions

      2. 578. Taxable pension income

      3. 579. Person liable for tax

    6. Chapter 6

      Approved retirement benefits schemes

      1. Pensions and annuities

        1. 580. Pensions and annuities

        2. 581. Taxable pension income

        3. 582. Person liable for tax

      2. Unauthorised payments

        1. 583. Unauthorised payments

        2. 584. Taxable pension income

        3. 585. Person liable for tax

      3. Interpretation etc.

        1. 586. Meaning of "retirement benefits scheme" etc.

        2. 587. Application to marine pilots' benefit fund

        3. 588. Meaning of "employee" and "ex-spouse"

        4. 589. Regulations

    7. Chapter 7

      Former approved superannuation funds

      1. Annuities

        1. 590. Annuities

        2. 591. Taxable pension income

        3. 592. Person liable for tax

      2. Unauthorised payments

        1. 593. Unauthorised payments: application of section 583

      3. Interpretation

        1. 594. Meaning of "former approved superannuation fund"

    8. Chapter 8

      Approved personal pension schemes

      1. Annuities

        1. 595. Annuities

        2. 596. Taxable pension income

        3. 597. Person liable for tax

      2. Income withdrawals

        1. 598. Income withdrawals

        2. 599. Taxable pension income

        3. 600. Person liable for tax

      3. Unauthorised personal pension payments

        1. 601. Unauthorised personal pension payments

        2. 602. Taxable pension income

        3. 603. Person liable for tax

      4. Interpretation

        1. 604. Meaning of "personal pension scheme" and related expressions

    9. Chapter 9

      Retirement annuity contracts

      1. 605. Annuities

      2. 606. Meaning of "retirement annuity contract"

      3. 607. Taxable pension income

      4. 608. Person liable for tax

    10. Chapter 10

      Other employment-related annuities

      1. 609. Annuities for the benefit of dependants

      2. 610. Annuities under sponsored superannuation schemes

      3. 611. Annuities in recognition of another's services

      4. 612. Taxable pension income: UK annuities

      5. 613. Taxable pension income: foreign annuities

      6. 614. Person liable for tax

    11. Chapter 11

      Certain overseas government pensions paid in the UK

      1. 615. Certain overseas government pensions paid in the United Kingdom

      2. 616. Taxable pension income

      3. 617. Deduction allowed from taxable pension income

      4. 618. Person liable for tax

    12. Chapter 12

      House of Commons Members' Fund

      1. 619. The House of Commons Members' Fund

      2. 620. Meaning of "House of Commons Members' Fund"

      3. 621. Taxable pension income

      4. 622. Person liable for tax

    13. Chapter 13

      Return of surplus employee additional voluntary contributions

      1. 623. Return of surplus employee additional voluntary contributions

      2. 624. Taxable pension income

      3. 625. Person liable for tax

      4. 626. Income tax treated as paid

      5. 627. Meaning of "grossing up"

      6. 628. Interpretation

    14. Chapter 14

      Pre-1973 pensions paid under the Overseas Pensions Act 1973

      1. 629. Pre-1973 pensions paid under the Overseas Pensions Act 1973

      2. 630. Interpretation

      3. 631. Taxable pension income

      4. 632. Person liable for tax

    15. Chapter 15

      Voluntary annual payments

      1. 633. Voluntary annual payments

      2. 634. Taxable pension income: UK voluntary annual payments

      3. 635. Taxable pension income: foreign voluntary annual payments

      4. 636. Person liable for tax

    16. Chapter 16

      Exemption for certain lump sums

      1. 637. Exemption for lump sums provided under certain pension schemes etc.

    17. Chapter 17

      Exemptions: any taxpayer

      1. 638. Awards for bravery

      2. 639. Pensions in respect of death due to military or war service

      3. 640. Exemption under section 639 where income withheld

      4. 641. Wounds and disability pensions

      5. 642. Compensation for National-Socialist persecution

      6. 643. Malawi, Trinidad and Tobago and Zambia government pensions

      7. 644. Pensions payable where employment ceased due to disablement

      8. 645. Social security pensions: increases in respect of children

      9. 646. Former miners etc: coal and allowances in lieu of coal

    18. Chapter 18

      Exemptions: Non-UK resident taxpayers

      1. 647. Introduction and meaning of "foreign residence condition" etc.

      2. 648. The Central African Pension Fund

      3. 649. Commonwealth government pensions

      4. 650. Oversea Superannuation Scheme

      5. 651. Overseas Pensions Act 1973

      6. 652. Overseas Service Act 1958

      7. 653. Overseas Service Pensions Fund

      8. 654. The Pensions (India, Pakistan and Burma) Act 1955

  10. Part 10

    Social security income

    1. Chapter 1

      Introduction

      1. 655. Structure of Part 10

    2. Chapter 2

      Tax on social security income

      1. 656. Nature of charge to tax on social security income

      2. 657. Meaning of "social security income", "taxable benefits" etc.

      3. 658. Amount charged to tax

      4. 659. Person liable for tax

    3. Chapter 3

      Taxable UK social security benefits

      1. 660. Taxable benefits: UK benefits – Table A

      2. 661. Taxable social security income

      3. 662. Person liable for tax

    4. Chapter 4

      Taxable UK social security benefits: exemptions

      1. Incapacity benefit

        1. 663. Long-term incapacity benefit: previous entitlement to invalidity benefit

        2. 664. Short-term incapacity benefit not payable at the higher rate

      2. Income support

        1. 665. Exempt unless payable to member of couple involved in trade dispute

        2. 666. Child maintenance bonus

        3. 667. Amounts in excess of taxable maximum

        4. 668. Taxable maximum

        5. 669. Interpretation

      3. Jobseeker's allowance

        1. 670. Child maintenance bonus

        2. 671. Amounts in excess of taxable maximum

        3. 672. Taxable maximum: general

        4. 673. Taxable maximum: income-based jobseeker's allowance

        5. 674. Taxable maximum: contribution-based jobseeker's allowance

        6. 675. Interpretation

      4. Increases in respect of children

        1. 676. Increases in respect of children

    5. Chapter 5

      UK social security benefits wholly exempt from income tax

      1. 677. UK social security benefits wholly exempt from tax: Table B

    6. Chapter 6

      Taxable foreign benefits

      1. 678. Taxable benefits: foreign benefits

      2. 679. Taxable social security income

      3. 680. Person liable for tax

    7. Chapter 7

      Taxable and other foreign benefits: exemptions

      1. 681. Taxable and other foreign benefits: exemptions

  11. Part 11

    Pay As You Earn

    1. Chapter 1

      Introduction

      1. 682. Scope of this Part

      2. 683. PAYE income

    2. Chapter 2

      PAYE: general

      1. 684. PAYE regulations

      2. 685. Tax tables

      3. 686. Meaning of "payment"

    3. Chapter 3

      PAYE: special types of payer or payee

      1. 687. Payments by intermediary

      2. 688. Agency workers

      3. 689. Employee of non-UK employer

      4. 690. Employee non-resident etc.

      5. 691. Mobile UK workforce

      6. 692. Organised arrangements for sharing tips

    4. Chapter 4

      PAYE: special types of income

      1. Income provided by means of vouchers and tokens

        1. 693. Cash vouchers

        2. 694. Non-cash vouchers

        3. 695. Credit-tokens

      2. Income provided in other ways

        1. 696. Readily convertible assets

        2. 697. Enhancing the value of an asset

        3. 698. PAYE: shares ceasing to be only conditional or being disposed of

        4. 699. PAYE: conversion of shares

        5. 700. PAYE: gains from share options

      3. Supplemental

        1. 701. Meaning of "asset"

        2. 702. Meaning of "readily convertible asset"

    5. Chapter 5

      PAYE settlement agreements

      1. 703. Introduction

      2. 704. Sums payable by employers under agreements

      3. 705. Approximations allowed in calculations

      4. 706. Exclusion of general earnings from income etc.

      5. 707. Interpretation of this Chapter

    6. Chapter 6

      Miscellaneous and supplemental

      1. 708. PAYE repayments

      2. 709. Additional provision for certain assessments

      3. 710. Notional payments: accounting for tax

      4. 711. Right to make a return

      5. 712. Interpretation of this Part

  12. Part 12

    Payroll giving

    1. 713. Donations to charity: payroll deduction scheme

    2. 714. Meaning of "donations"

    3. 715. Approval of schemes: regulation by Treasury

  13. Part 13

    Supplementary provisions

    1. Alteration of amounts

      1. 716. Alteration of amounts by Treasury order

    2. Orders and regulations

      1. 717. Orders and regulations made by Treasury or Board

    3. Interpretation

      1. 718. Connected persons

      2. 719. Control in relation to a body corporate

      3. 720. Meaning of "the Inland Revenue" etc.

      4. 721. Other definitions

    4. Amendments, repeals, citation etc.

      1. 722. Consequential amendments

      2. 723. Commencement and transitional provisions and savings

      3. 724. Repeals and revocations

      4. 725. Citation

    1. Schedule 1

      Abbreviations and defined expressions

      1. Part 1

        Abbreviations of Acts and instruments

      2. Part 2

        Index of expressions defined in this Act or ICTA

    2. Schedule 2

      Approved share incentive plans

      1. Part 1

        Introduction

      2. Part 2

        General requirements

      3. Part 3

        Eligibility of individuals

      4. Part 4

        Types of shares that may be awarded

      5. Part 5

        Free shares

      6. Part 6

        Partnership shares

      7. Part 7

        Matching shares

      8. Part 8

        Cash dividends and dividend shares

      9. Part 9

        Trustees

      10. Part 10

        Approval of plans

      11. Part 11

        Supplementary provisions

    3. Schedule 3

      Approved SAYE option schemes

      1. Part 1

        Introduction

      2. Part 2

        General requirements for approval

      3. Part 3

        Eligibility of individuals to participate in scheme

      4. Part 4

        Shares to which schemes can apply

      5. Part 5

        Requirement for linked savings scheme

      6. Part 6

        Requirements etc. relating to share options

      7. Part 7

        Exchange of share options

      8. Part 8

        Approval of schemes

      9. Part 9

        Supplementary provisions

    4. Schedule 4

      Approved CSOP schemes

      1. Part 1

        Introduction

      2. Part 2

        General requirements for approval

      3. Part 3

        Eligibility of individuals to participate in scheme

      4. Part 4

        Shares to which schemes can apply

      5. Part 5

        Requirements etc. relating to share options

      6. Part 6

        Exchange of share options

      7. Part 7

        Approval of schemes

      8. Part 8

        Supplementary provisions

    5. Schedule 5

      Enterprise management incentives

      1. Part 1

        Introduction

      2. Part 2

        General requirements

      3. Part 3

        Qualifying companies

      4. Part 4

        Eligible employees

      5. Part 5

        Requirements relating to options

      6. Part 6

        Company reorganisations

      7. Part 7

        Notification of option to Inland Revenue

      8. Part 8

        Supplementary provisions

    6. Schedule 6

      Consequential Amendments

      1. Part 1

        Income and Corporation Taxes Act 1988

      2. Part 2

        Other enactments

    7. Schedule 7

      Transitionals and savings

      1. Part 1

        Continuity of the law

      2. Part 2

        Employment income: charge to tax

      3. Part 3

        Employment income: earnings and benefits etc. treated as earnings

      4. Part 4

        Pages: P.1 | P.2 | P.3 | P.4 | P.5 | P.6 | P.7 | P.8 | P.9 | P.10 | P.11 | P.12 | P.13 | P.14 | P.15 | P.16 | P.17 | P.18 | P.19 | P.20 | P.21 | P.22 | P.23 | P.24 | P.25 | P.26 | P.27 | P.28 | P.29 | P.30 | P.31 | P.32 | P.33 | P.34 | P.35 | P.36 | P.37 | P.38 | P.39 | P.40 | P.41 | P.42 | P.43 | P.44 | P.45 | P.46 | P.47 | P.48 | P.49 | P.50 | P.51 | P.52

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