# Finance Act 2000, Paragraph 48

Extent: E+W+S+N.I.

References in this Part of this Schedule to an employee’s “salary" are to such of the emoluments of the employment by reference to which he is eligible to participate in the plan as are liable to be paid under deduction of tax pursuant to section 203 of the Taxes Act 1988 (PAYE)[or which would be if that individual were within the scope of Schedule E], after deducting amounts included by virtue of Chapter II of Part V of that Act (expenses and benefits in kind) or which would have been had the individual been within the scope of Schedule E, or would be so liable apart from this Schedule.

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/8/paragraph/48 (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-8/paragraph-48
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.