{
  "url": "https://openlegislation.uk/finance-act-2003/schedule-21/paragraph-7",
  "json_url": "https://openlegislation.uk/finance-act-2003/schedule-21/paragraph-7.json",
  "legislation": "ukpga/2003/14",
  "legislation_title": "Finance Act 2003",
  "legislation_url": "https://openlegislation.uk/finance-act-2003",
  "path": "schedule/21/paragraph/7",
  "kind": "paragraph",
  "number": "7",
  "heading": null,
  "text": "(1) Paragraph 46 (maximum amount of partnership share money deductions) is amended as follows.\n(2) In sub-paragraph (1), for the words after “must not exceed” substitute “ £1,500 in any tax year. ”.\n(3) In sub-paragraph (2), for the words after “an employee’s salary” substitute “ for any tax year must not exceed 10% of the employee’s salary for the tax year. ”.\n(4) After that sub-paragraph insert—\n“(4A) A limit lower than that specified in sub-paragraph (2) may be framed—\n(a) as a proposition substituting a percentage lower than that so specified, or\n(b) as a proposition that a particular description of earnings is not to be regarded as forming part of an employee’s salary for the purposes of that sub-paragraph.”.\n(5) Sub-paragraphs (2) and (3) have effect for the year 2003-04 and subsequent years of assessment.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2003/14/schedule/21/paragraph/7",
    "retrieved_at": "2026-10-29T09:18:27.996599+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}