Income Tax (Earnings and Pensions) Act 2003

2003 c. 1 · Enacted 6 March 2003 · Extends to United Kingdom

Contents

1. Part 1: Overview
2. 1Overview of contents of this Act
3. 2Abbreviations and general index in Schedule 1
4. Part 2: Employment income: charge to tax
5. Chapter 1: Introduction
6. 3Structure of employment income Parts
7. 4“Employment” for the purposes of the employment income Parts
8. 5Application to offices and office-holders
9. Chapter 2: Tax on employment income
10. 6Nature of charge to tax on employment income
11. 7Meaning of “employment income”, “general earnings” and “specific employment income”
12. 8Meaning of “exempt income”
13. Chapter 3: Operation of tax charge
14. 9Amount of employment income charged to tax
15. 10Meaning of “taxable earnings” and “taxable specific income”
16. 11Calculation of “net taxable earnings”
17. 12Calculation of “net taxable specific income”
18. 13Person liable for tax
19. Chapter 4: Taxable earnings: UK resident employees
20. Taxable earnings
21. 14Taxable earnings under this Chapter: introduction
22. UK resident employees
23. 15Earnings for year when employee UK resident
24. Year for which general earnings are earned
25. 16Meaning of earnings “for” a tax year
26. 17Treatment of earnings for year in which employment not held
27. When general earnings are received
28. 18Receipt of money earnings
29. 19Receipt of non-money earnings
30. Chapter 5: Taxable earnings: remittance basis rules and rules for non-uk resident employees
31. Taxable earnings
32. 20Taxable earnings under this Chapter: introduction
33. Remittance basis rules for employees outside section 26
34. 21Earnings for year when employee resident and ordinarily resident, but not domiciled, in UK, except chargeable overseas earnings
35. 22Chargeable overseas earnings for year when remittance basis applied and employee outside section 26
36. 23Calculation of “chargeable overseas earnings”
37. 24Limit on chargeable overseas earnings where duties of associated employment performed in UK
38. 24ARestrictions on remittance basis
39. 24BDefinitions of “C” and “I” for the purposes of section 24A(14)
40. Remittance basis rules: employees who met section 26A requirement
41. 25UK-based earnings for year when employee resident, but not ordinarily resident, in UK Repealed
42. 26Foreign earnings for year when remittance basis applied and employee met section 26A requirement
43. 26ASection 26: requirement for 3-year period of non-residence
44. Employees not resident in UK
45. 27UK-based earnings for year when employee not resident in UK
46. Special class of earnings for purposes of sections 25 to 27
47. 28Meaning of “general earnings from overseas Crown employment subject to UK tax”
48. Year for which general earnings are earned
49. 29Meaning of earnings “for” a tax year
50. 30Treatment of earnings for year in which employment not held
51. ... Repealed
52. 31Receipt of money earnings Repealed
53. 32Receipt of non-money earnings Repealed
54. 33Earnings remitted to UK Repealed
55. 34Earnings remitted to UK: further provisions about UK-linked debts Repealed
56. Relief for delayed remittances
57. 35Relief for delayed remittances Repealed
58. 36Election in respect of delayed remittances Repealed
59. 37Claims for relief on delayed remittances Repealed
60. Place of performance of duties of employment
61. 38Earnings for period of absence from employment
62. 38AEarnings relating to duties not performed
63. 39Duties in UK merely incidental to duties outside UK
64. 40Duties on board vessel or aircraft
65. 41Employment in UK sector of continental shelf
66. Apportionment of earnings
67. 41ZABasis of apportionment
68. Chapter 5A: Taxable specific income: effect of remittance basis
69. 41ATaxable specific income from employment-related securities: effect of remittance basis
70. 41BSection 41A: the relevant period
71. 41CSection 41A: foreign securities income
72. 41DLimit on foreign securities income where duties of associated employment performed in UK
73. 41EForeign securities income: just and reasonable apportionment
74. Chapter 5B: Taxable specific income from employment-related securities etc: internationally mobile employees
75. 41FTaxable specific income: internationally mobile employees etc
76. 41GSection 41F: the relevant period
77. 41HSection 41F: chargeable and unchargeable foreign securities income
78. 41ILimit on “chargeable foreign securities income” where duties of associated employment performed in UK
79. 41JLocation of employment duties
80. 41KSecurities income from overseas Crown employment
81. 41LChargeable and unchargeable foreign securities income: just and reasonable apportionment
82. Chapter 5C: Relief for new residents on foreign employment income
83. Foreign employment election
84. 41MForeign employment election for qualifying new residents
85. Key definitions
86. 41NKey definitions
87. Claim for relief
88. 41PClaim for relief for qualifying new residents
89. 41QAmount of relief available
90. 41RLimit on relief
91. 41SEffect of claim on relief for contributions to registered pension schemes
92. 41TForeign employment relief ignored for purposes of determining adjusted net income
93. Qualifying foreign employment income
94. 41UQualifying foreign general earnings
95. 41VQualifying foreign third party income
96. 41WQualifying foreign securities income
97. 41XMeaning of “overseas Crown employment subject to UK tax”
98. 41YLocation of employment duties
99. Other rules for determining amounts of qualifying foreign employment income
100. 41ZArtificial arrangements to be disregarded
101. 41Z1Limit on qualifying foreign employment income from associated employments
102. Chapter 6: Disputes as to domicile or ordinary residence
103. 42Commissioners to determine dispute as to domicile or ordinary residence Repealed
104. 43Appeal against Commissioners' decision on domicile or ordinary residence Repealed
105. Chapter 7: Application of provisions to agency workers
106. Agency workers
107. 44Treatment of workers supplied by agencies
108. 45Arrangements with agencies
109. 46Cases involving unincorporated bodies etc.
110. Anti-avoidance
111. 46AAnti-avoidance
112. Supplementary
113. 47Interpretation of this Chapter
114. Chapter 8: Workers' services provided through intermediaries to small clients
115. Application of this Chapter
116. 48Scope of this Chapter
117. 49Engagements to which this Chapter applies
118. 50Worker treated as receiving earnings from employment
119. 51Conditions of liability where intermediary is a company
120. 52Conditions of liability where intermediary is a partnership
121. 53Conditions of liability where intermediary is an individual
122. The deemed employment payment
123. 54Calculation of deemed employment payment
124. 55Application of rules relating to earnings from employment
125. 56Application of Income Tax Acts in relation to deemed employment
126. Supplementary provisions
127. 57Earlier date of deemed employment payment in certain cases
128. 58Relief in case of distributions by intermediary
129. 59Provisions applicable to multiple intermediaries
130. 60Meaning of “associate”
131. When a person qualifies as small for a tax year
132. 60AWhen a company qualifies as small for a tax year
133. 60BWhen a company qualifies as small for a tax year: joint ventures
134. 60CWhen a company qualifies as small for a tax year: subsidiaries
135. 60DWhen a relevant undertaking qualifies as small for a tax year
136. 60EWhen other undertakings qualify as small for a tax year
137. 60FWhen other persons qualify as small for a tax year
138. 60GSections 60A to 60F: connected persons
139. 60HDuty on client to state whether it qualifies as small for a tax year
140. When a person has a UK connection
141. 60IWhen a person has a UK connection for a tax year
142. Interpretation
143. 61Interpretation
144. Chapter 9: Managed service companies
145. Application of this Chapter
146. 61AScope of this Chapter
147. 61BMeaning of “managed service company”
148. 61CSection 61B: supplementary
149. The deemed employment payment
150. 61DWorker treated as receiving earnings from employment
151. 61ECalculation of deemed employment payment
152. 61FSections 61D and 61E: application of rules relating to earnings from employment
153. 61GApplication of Income Tax Acts in relation to deemed employment
154. Supplementary provisions
155. 61HRelief in case of distributions by managed service company
156. 61IMeaning of “associate”
157. 61JInterpretation of Chapter
158. Chapter 10: Workers' services provided through intermediaries to public authorities or medium or large clients
159. 61KScope of this Chapter
160. 61LMeaning of “public authority”
161. 61MEngagements to which Chapter applies
162. 61NWorker treated as receiving earnings from employment
163. 61NAMeaning of status determination statement
164. 61OConditions where intermediary is a company
165. 61PConditions where intermediary is a partnership
166. 61QCalculation of deemed direct payment
167. 61RApplication of Income Tax Acts in relation to deemed employment
168. 61SDeductions from chain payments
169. 61TClient-led status disagreement process
170. 61TADuty for client to withdraw status determination statement if it ceases to be medium or large
171. 61UInformation to be provided by worker or intermediary and consequences of failure
172. 61VConsequences of providing fraudulent information
173. 61WPrevention of double charge to tax and allowance of certain deductions
174. 61WAAnti-avoidance
175. 61XInterpretation
176. Chapter 11: Umbrella companies
177. 61YUmbrella companies: joint and several liability
178. 61ZRelevant parties
179. 61Z1Purported umbrella companies
180. 61Z2Disclosures to liable persons
181. Part 3: Employment income: earnings and benefits etc. treated as earnings
182. Chapter 1: Earnings
183. 62Earnings
184. Chapter 2: Taxable benefits: the benefits code
185. The benefits code
186. 63The benefits code
187. 64Relationship between earnings and benefits code
188. 65Dispensations relating to benefits within provisions not applicable to lower-paid employment Repealed
189. General definitions for benefits code
190. 66Meaning of “employment” and related expressions
191. 67Meaning of “director” and “full-time working director”
192. 68Meaning of “material interest” in a company
193. 69Extended meaning of “control”
194. 69AOptional remuneration arrangements
195. 69BOptional remuneration arrangements: supplementary
196. Chapter 3: Taxable benefits: expenses payments
197. 70Sums in respect of expenses
198. 71Meaning of paid or put at disposal by reason of the employment
199. 72Sums in respect of expenses treated as earnings
200. Chapter 4: Taxable benefits: vouchers and credit-tokens
201. Cash vouchers: introduction
202. 73Cash vouchers to which this Chapter applies
203. 74Provision for, or receipt by, member of employee’s family
204. Meaning of “cash voucher”
205. 75Meaning of “cash voucher”
206. 76Sickness benefits-related voucher
207. 77Apportionment of cost of provision of voucher
208. Cash vouchers: exceptions
209. 78Voucher made available to public generally
210. 79Voucher issued under approved scheme
211. 80Vouchers where payment of sums exempt from tax
212. Benefit of cash voucher treated as earnings
213. 81Benefit of cash voucher treated as earnings
214. Non-cash vouchers: introduction
215. 82Non-cash vouchers to which this Chapter applies
216. 83Provision for, or receipt by, member of employee’s family
217. Meaning of “non-cash voucher”
218. 84Meaning of “non-cash voucher”
219. Non-cash voucher: exceptions
220. 85Non-cash voucher made available to public generally
221. 86Transport vouchers under pre-26th March 1982 arrangements
222. Benefit of non-cash voucher treated as earnings
223. 87Benefit of non-cash voucher treated as earnings
224. 87ABenefit of non-cash voucher treated as earnings: optional remuneration arrangements
225. 88Year in which earnings treated as received
226. 89Reduction for meal vouchers Repealed
227. Credit-tokens: introduction
228. 90Credit-tokens to which this Chapter applies
229. 91Provision for, or use by, member of employee’s family
230. Meaning of “credit-token”
231. 92Meaning of “credit-token”
232. Credit-tokens: exception
233. 93Credit-token made available to public generally
234. Benefit of credit-token treated as earnings
235. 94Benefit of credit-token treated as earnings
236. 94ABenefit of credit-token treated as earnings: optional remuneration arrangements
237. General supplementary provisions
238. 95Disregard for money, goods or services obtained
239. 96Dispensations relating to vouchers or credit-tokens Repealed
240. 96APower to exempt use of non-cash vouchers or credit-tokens to obtain exempt benefits
241. Chapter 5: Taxable benefits: living accommodation
242. Living accommodation
243. 97Living accommodation to which this Chapter applies
244. Exceptions
245. 98Accommodation provided by local authority
246. 99Accommodation provided for performance of duties
247. 100Accommodation provided as result of security threat
248. 100AHomes outside UK owned through company etc
249. 100BSection 100A(1): exceptions
250. 101Chevening House
251. Benefit of living accommodation treated as earnings
252. 102Benefit of living accommodation treated as earnings
253. Calculation of cash equivalent
254. 103Method of calculating cash equivalent
255. 103AAccommodation provided pursuant to optional remuneration arrangements: relevant amount
256. 104General rule for calculating cost of providing accommodation
257. Accommodation costing £75,000 or less
258. 105Cash equivalent: cost of accommodation not over £75,000
259. 105ALease premiums
260. 105BLease premiums in the case of leases with break clauses
261. Accommodation costing more than £75,000
262. 106Cash equivalent: cost of accommodation over £75,000
263. 107Special rule for calculating cost of providing accommodation
264. Apportionment of cash equivalent
265. 108Cash equivalent: accommodation provided for more than one employee
266. Other tax implications
267. 109Priority of this Chapter over Chapter 1 of this Part
268. Supplementary
269. 110Meaning of “annual value”
270. 111Disputes as to annual value
271. 112Meaning of “person involved in providing the accommodation”
272. 113Meaning of “the property”
273. Chapter 6: Taxable benefits: cars, vans and related benefits
274. General
275. 114Cars, vans and related benefits
276. 115Meaning of “car” and “van”
277. 116Meaning of when car or van is available to employee
278. 117Meaning of car or van made available by reason of employment
279. 118Availability for private use
280. 119Where alternative to benefit of low emission car or van offered
281. Cars: benefit treated as earnings
282. 120Benefit of car treated as earnings
283. 120ABenefit of car treated as earnings: optional remuneration arrangements
284. 121Method of calculating the cash equivalent of the benefit of a car
285. 121AOptional remuneration arrangements: method of calculating relevant amount
286. 121BMeaning of “modified cash equivalent”
287. Cars: the price of a car
288. 122The price of the car
289. 123The list price of a car
290. 124The notional price of a car with no list price
291. 124AAutomatic car for a disabled employee
292. Cars: treatment of accessories
293. 125Meaning of “accessory” and related terms
294. 125ASecurity features not to be regarded as accessories
295. 126Amounts taken into account in respect of accessories
296. 127The list price of an accessory
297. 128Accessory: published price of the car manufacturer etc.
298. 129Accessory: published price of the accessory manufacturer etc.
299. 130The notional price of an accessory
300. 131Replacement accessories
301. Cars: capital contributions by employee
302. 132Capital contributions by employee
303. 132ACapital contributions by employee: optional remuneration arrangements
304. Cars: the appropriate percentage
305. 133How to determine the “appropriate percentage”
306. 134Meaning of car with or without a CO2 emissions figure
307. Cars: appropriate percentage: first registered on or after 1st January 1998
308. 135Car with a CO2 emissions figure: pre-October 1999 registration
309. 136Car with a CO2 emissions figure: registration from 1st October 1999 to IP completion day
310. 136ACar with a CO2 emissions figure: registration on or after IP completion day
311. 137Car with a CO2 emissions figure: bi-fuel cars : registration from 1st January 2000 to IP completion day
312. 137ACar with a CO2 emissions figure: bi-fuel cars registered on or after IP completion day
313. 138Car with a CO2 emissions figure: automatic car for a disabled employee
314. 138ACertain cars with a CO2 emissions figure and an electric range figure
315. 139Cars with a CO2 emissions figure: the appropriate percentage
316. 140Car without a CO2 emissions figure: the appropriate percentage
317. 141Diesel cars: the appropriate percentage
318. Cars: appropriate percentage: first registered before 1st January 1998
319. 142Car first registered before 1st January 1998: the appropriate percentage
320. Cars: unavailability or payments for private use
321. 143Deduction for periods when car unavailable
322. 144Deduction for payments for private use
323. 145Modification of provisions where car temporarily replaced
324. Cars: special cases
325. 146Cars that run on road fuel gas
326. 147Classic cars: 15 years of age or more
327. 147AClassic cars: optional remuneration arrangements
328. Cars: reduction where shared car
329. 148Reduction of cash equivalent where car is shared
330. Car fuel: benefit treated as earnings
331. 149Benefit of car fuel treated as earnings
332. 149ABenefit of car fuel treated as earnings: optional remuneration arrangements
333. 150Car fuel: calculating the cash equivalent
334. 151Car fuel: nil cash equivalent
335. 152Car fuel: proportionate reduction of cash equivalent
336. 153Car fuel: reduction of cash equivalent
337. Vans: benefit treated as earnings
338. 154Benefit of van treated as earnings
339. 154ABenefit of van treated as earnings: optional remuneration arrangements
340. 155Cash equivalent of the benefit of a van
341. Vans: reductions of cash equivalent
342. 156Meaning of “shared van”
343. Reduction of cash equivalent where van is shared
344. 157Reduction of cash equivalent where van is shared
345. Reduction for payments for private use
346. 158Reduction for payments for private use
347. 158AVan provided pursuant to optional remuneration arrangements: private use
348. Modification of provisions where van temporarily replaced
349. 159Modification of provisions where van temporarily replaced
350. Van fuel: benefit treated as earnings
351. 160Benefit of van fuel treated as earnings
352. 160ABenefit of van fuel treated as earnings: optional remuneration arrangements
353. 161Van fuel: the cash equivalent
354. 162Van fuel: nil cash equivalent
355. 163Van fuel: proportionate reduction of cash equivalent
356. 164Van fuel: reduction of cash equivalent
357. Cars and vans: exceptions
358. 167Pooled cars
359. 168Pooled vans
360. 169Car available to more than one member of family or household employed by same employer
361. 169AVan available to more than one member of family or household employed by same employer
362. Orders
363. 170Orders etc. relating to this Chapter
364. Supplementary
365. 171Minor definitions: general
366. 172Minor definitions: equipment to enable a disabled person to use a car
367. Chapter 7: Taxable benefits: loans
368. Introduction
369. 173Loans to which this Chapter applies
370. 173AAlternative finance arrangements
371. 174Employment-related loans
372. Benefit of taxable cheap loan treated as earnings
373. 175Benefit of taxable cheap loan treated as earnings
374. 175AOptional remuneration arrangements: “relevant amount” and “modified cash equivalent”
375. 176Exception for loans on ordinary commercial terms
376. 177Exceptions for loans at fixed rate of interest
377. 178Exception for loans where interest qualifies for tax relief
378. 179Exception for certain advances for necessary expenses
379. 180Threshold for benefit of loan to be treated as earnings
380. Calculation of amount of interest at official rate
381. 181The official rate of interest
382. 182Normal method of calculation: averaging
383. 183Alternative method of calculation
384. Supplementary provisions relating to taxable cheap loans
385. 184Interest treated as paid
386. 185Apportionment of cash equivalent in case of joint loan etc.
387. 186Replacement loans
388. 187Aggregation of loans by close company to director
389. Loan released or written off
390. 188Loan released or written off: amount treated as earnings
391. 189Exception where double charge
392. General supplementary provisions
393. 190Exclusion of charge after death of employee
394. 191Claim for relief to take account of event after assessment
395. Chapter 8: Taxable benefits: notional loans in respect of acquisitions of shares Repealed
396. Introduction Repealed
397. 192Application of this Chapter Repealed
398. Acquisition of shares for less than market value Repealed
399. 193Notional loan where acquisition for less than market value Repealed
400. 194The amount of the notional loan Repealed
401. 195Discharge of notional loan: amount treated as earnings Repealed
402. Supplementary provisions Repealed
403. 196Effects on other income tax charges Repealed
404. 197Minor definitions Repealed
405. Chapter 9: Taxable benefits: disposals of shares for more than market value Repealed
406. 198Shares to which this Chapter applies Repealed
407. 199Disposal for more than market value: amount treated as earnings Repealed
408. 200Minor definitions Repealed
409. Chapter 10: Taxable benefits: residual liability to charge
410. Introduction
411. 201Employment-related benefits
412. 202Excluded benefits
413. Cash equivalent of benefit treated as earnings
414. 203Cash equivalent of benefit treated as earnings
415. 203AEmployment-related benefit provided under optional remuneration arrangements
416. Determination of the cost of the benefit
417. 204Cost of the benefit: basic rule
418. 205Cost of the benefit: asset made available without transfer
419. 205ADeduction for periods when asset unavailable for private use
420. 205BReduction of cost of taxable benefit where asset is shared
421. 206Cost of the benefit: transfer of used or depreciated asset
422. Supplementary provisions
423. 207Meaning of “annual rental value”
424. 208Meaning of “market value”
425. 209Meaning of “persons providing benefit”
426. 210Power to exempt minor benefits
427. Special rules for scholarships
428. 211Special rules for scholarships: introduction
429. 212Scholarships provided under arrangements entered into by employer or connected person
430. 213Exception for certain scholarships under trusts or schemes
431. 214Scholarships: cost of the benefit
432. 215Limitation of exemption for scholarship income in section 776(1) of ITTOIA 2005
433. Chapter 11: Taxable benefits: exclusion of lower-paid employments from parts of benefits code Repealed
434. Introduction Repealed
435. 216Provisions not applicable to lower-paid employments Repealed
436. What is lower-paid employment Repealed
437. 217Meaning of “lower-paid employment” Repealed
438. 218Calculation of earnings rate for a tax year Repealed
439. 219Extra amounts to be added in connection with a car Repealed
440. Treatment of related employments Repealed
441. 220Related employments Repealed
442. Chapter 12: Other amounts treated as earnings
443. Payments
444. 221Payments where employee absent because of sickness or disability
445. 222Payments by employer on account of tax where deduction not possible
446. 223Payments on account of director’s tax other than by the director
447. 224Payments to non-approved personal pension arrangements Repealed
448. 225Payments for restrictive undertakings
449. 226Valuable consideration given for restrictive undertakings
450. Shares of employee shareholders
451. 226AAmount treated as earnings
452. 226BDeemed payment for employee shareholder shares Repealed
453. 226COnly one payment deemed to be made under associated agreements Repealed
454. 226DShareholder or connected person having material interest in company Repealed
455. Sporting testimonial payments
456. 226ESporting testimonial payments
457. Part 4: Employment income: exemptions
458. Chapter 1: Exemptions: general
459. 227Scope of Part 4
460. 228Effect of exemptions on liability under provisions outside Part 2
461. 228AGeneral exclusion from exemptions: optional remuneration arrangements
462. Chapter 2: Exemptions: mileage allowances and passenger payments
463. Mileage allowances
464. 229Mileage allowance payments
465. 230The approved amount for mileage allowance payments
466. 231Mileage allowance relief
467. 232Giving effect to mileage allowance relief
468. Passenger payments
469. 233Passenger payments
470. 234The approved amount for passenger payments
471. Supplementary
472. 235Vehicles to which this Chapter applies
473. 235AJourneys made by members of local authorities etc
474. 236Interpretation of this Chapter
475. Chapter 3: Exemptions: other transport, travel and subsistence
476. 237Parking provision and expenses
477. 237AVehicle-battery charging
478. 238Modest private use of heavy goods vehicles
479. 239Payments and benefits connected with taxable cars and vans and exempt heavy goods vehicles
480. 240Incidental overnight expenses and benefits
481. 241Incidental overnight expenses and benefits: overall exemption limit
482. 241ATravel by unpaid directors of not-for-profit companies
483. 241BTravel where directorship held as part of trade or profession
484. 242Works transport services
485. 243Support for public bus services
486. 244Cycles and cyclist’s safety equipment
487. 245Travelling and subsistence during public transport strikes
488. 246Transport between work and home for disabled employees: general
489. 247Provision of cars for disabled employees
490. 248Transport home: late night working and failure of car-sharing arrangements
491. 248AEmergency vehicles
492. 249Interpretation of this Chapter
493. Chapter 4: Exemptions: education and training
494. Work-related training
495. 250Exemption of work-related training provision
496. 251Meaning of “work-related training”
497. 252Exception for non-deductible travel expenses
498. 253Exception where provision for excluded purposes
499. 254Exception where unrelated assets are provided
500. Persons leaving local authority care
501. 254AApprenticeship bursaries paid to persons leaving local authority care
502. Individual learning account training
503. 255Exemption for contributions to individual learning account training
504. 256Meaning of “individual learning account training”
505. 257Exception for non-deductible travel expenses
506. 258Exception where provision for excluded purposes
507. 259Exception where unrelated assets are provided
508. 260Exception where training not generally available to staff
509. Chapter 5: Exemptions: recreational benefits
510. Recreational facilities
511. 261Exemption of recreational benefits
512. 262Benefits not exempted by section 261
513. 263Power to alter benefits to which section 261 applies
514. Annual parties and functions
515. 264Annual parties and functions
516. Entertainment
517. 265Third party entertainment
518. Chapter 6: Exemptions: non-cash vouchers and credit-tokens
519. General exemptions: use for exempt benefits
520. 266Exemption of non-cash vouchers for exempt benefits
521. 267Exemption of credit-tokens used for exempt benefits
522. Exemptions for particular non-cash vouchers and credit-tokens
523. 268Exemption of vouchers and tokens for incidental overnight expenses
524. 269Exemption where benefits or money obtained in connection with taxable car or van or exempt heavy goods vehicle
525. 270Exemption for small gifts of vouchers and tokens from third parties
526. 270ALimited exemption for qualifying childcare vouchers
527. 270AAMeaning of “eligible employee”
528. 270BMeaning of “relevant earnings amount” and “required time”
529. Chapter 7: Exemptions: removal benefits and expenses
530. Exemption of removal benefits and expenses: general
531. 271Limited exemption of removal benefits and expenses: general
532. 272Removal benefits and expenses to which section 271 applies
533. 273Conditions applicable to change of residence
534. 274Meaning of “the limitation day”
535. 275Meaning of “the employment change”
536. 276Meaning of “residence”, “former residence” and “new residence” etc.
537. Benefits and expenses within this Chapter
538. 277Acquisition benefits and expenses
539. 278Abortive acquisition benefits and expenses
540. 279Disposal benefits and expenses
541. 280Transporting belongings
542. 281Travelling and subsistence
543. 282Exclusion from section 281 of benefits and expenses where deduction allowed
544. 283Exclusion from section 281 of taxable car and van facilities
545. 284Bridging loan expenses
546. 285Replacement of domestic goods
547. 286Power to amend sections 277 to 285
548. Limit on exemption
549. 287Limit on exemption
550. Special exemption and relief for bridging loans
551. 288Limited exemption of certain bridging loans connected with employment moves
552. 289Relief for certain bridging loans not qualifying for exemption under section 288
553. Chapter 7A: Exemptions: amounts which would otherwise be deductible
554. 289AExemption for paid or reimbursed expenses
555. 289BApproval to pay or reimburse expenses at a flat rate
556. 289CRevocation of approvals
557. 289DExemption for other benefits
558. 289EAnti-avoidance
559. Chapter 8: Exemptions: special kinds of employees
560. Ministers of religion
561. 290Accommodation benefits of ministers of religion
562. 290AAccommodation outgoings of lower-paid ministers of religion
563. 290BAllowances paid to lower-paid ministers of religion in respect of accommodation outgoings
564. 290CProvisions of benefits code not applicable to lower-paid ministers of religion
565. 290DMeaning of “lower-paid employment as a minister of religion”
566. 290ECalculation of earnings rate for a tax year
567. 290FExtra amounts to be added in connection with a car
568. 290GRelated employments
569. MPs, government ministers etc.
570. 291Termination payments to MPs and others ceasing to hold office
571. 292Accommodation expenses of MPs
572. 293Overnight expenses of other elected representatives
573. 293AUK travel and subsistence expenses of MPs
574. 293BUK travel expenses of other elected representatives
575. 294European travel expenses of MPs and other representatives
576. 295Transport and subsistence for Government ministers etc.
577. Members of local authorities etc
578. 295ATravel expenses of members of local authorities etc
579. Armed forces
580. 296Armed forces' leave travel facilities
581. 297Armed forces' food, drink and mess allowances
582. 297AArmed forces: the Operational Allowance
583. 297BArmed forces: the Council Tax Relief
584. 297CArmed forces: Continuity of Education Allowance
585. 297DArmed forces: accommodation allowances
586. 298Reserve and auxiliary forces' training allowances
587. Crown employees
588. 299Crown employees' foreign service allowances
589. Voluntary office-holders
590. 299AVoluntary office-holders: compensation for lost employment income
591. 299BVoluntary office-holders: payments in respect of expenses
592. Consuls, foreign agents etc.
593. 300Consuls
594. 301Official agents
595. 302Consular employees
596. Visiting forces and staff of designated allied headquarters
597. 303Visiting forces etc
598. Detached national experts
599. 304Experts seconded to European Commission
600. 304AExperts seconded to other European Union bodies
601. Offshore oil and gas workers
602. 305Offshore oil and gas workers: mainland transfers
603. Miners etc.
604. 306Miners etc: coal and allowances in lieu of coal
605. Carers
606. 306ACarers: board and lodging
607. Professional sportspersons
608. 306BLimited exemption for sporting testimonial payments
609. Chapter 9: Exemptions: pension provision
610. 307Death or retirement benefit provision
611. 308Exemption of contributions to registered pension scheme
612. 308AExemption of contributions to overseas pension scheme
613. 308BIndependent advice in respect of conversions and transfers of pension scheme benefits
614. 308CProvision of pensions advice: limited exemption
615. Chapter 10: Exemptions: termination of employment
616. Redundancy payments
617. 309Limited exemptions for statutory redundancy payments
618. Outplacement benefits
619. 310Counselling and other outplacement services
620. 311Retraining courses
621. 312Recovery of tax
622. Chapter 10A: Exemptions: bonus payments by certain employers
623. 312ALimited exemption for qualifying bonus payments
624. 312B“Qualifying bonus payments”
625. 312CSection 312B: the participation and equality requirements
626. 312DSection 312B: the trading requirement
627. 312ESection 312B: the indirect employee-ownership requirement
628. 312FSection 312B: the office-holder requirement
629. 312G“Service company”
630. 312HExcluded payments
631. 312IInterpretation of Chapter 10A
632. Chapter 11: Miscellaneous exemptions
633. Living accommodation
634. 313Repairs and alterations to living accommodation
635. 314Council tax etc. paid for certain living accommodation
636. 315Limited exemption for expenses connected with certain living accommodation
637. Work accommodation, supplies etc.
638. 316Accommodation, supplies and services used in employment duties
639. 316ZAAccommodation, supplies and services used in employment duties: payment or reimbursement of expenses
640. 316AHomeworker’s additional household expenses
641. Workplace meals
642. 317Subsidised meals
643. Childcare
644. 318Childcare: exemption for employer-provided care
645. 318AChildcare: limited exemption for other care
646. 318AZAMeaning of “eligible employee”
647. 318AAMeaning of “relevant earnings amount” and “required time”
648. 318BChildcare: meaning of “care”, “child” and “parental responsibility”
649. 318CChildcare: meaning of “qualifying child care”
650. 318DChildcare: power to vary amounts which are the exempt amount and qualifying conditions
651. Telephones and computer equipment
652. 319Mobile telephones
653. 320Limited exemption for computer equipment Repealed
654. Eye tests and special corrective appliances
655. 320AEye tests and special corrective appliances
656. Health-screening and medical check-ups
657. 320BHealth-screening and medical check-ups
658. Recommended medical treatment
659. 320CRecommended medical treatment
660. Flu vaccinations
661. 320DFlu vaccinations
662. Awards and gifts
663. 321Suggestion awards
664. 322Suggestion awards: “the permitted maximum”
665. 323Long service awards
666. 323ATrivial benefits provided by employers
667. 323BSection 323A: calculation of available exempt amount
668. 323CPower to amend sections 323A and 323B
669. 324Small gifts from third parties
670. Overseas medical treatment
671. 325Overseas medical treatment
672. 325AHealth and employment insurance payments
673. Expenses incidental to sale etc. of asset
674. 326Expenses incidental to transfer of a kind not normally met by transferor
675. Monitoring schemes
676. 326AFees relating to monitoring schemes relating to vulnerable persons
677. Employee shareholder agreements
678. 326BAdvice relating to proposed employee shareholder agreements
679. Part 5: Employment income: deductions allowed from earnings
680. Chapter 1: Deductions allowed from earnings: general rules
681. Introduction
682. 327Deductions from earnings: general
683. General rules
684. 328The income from which deductions may be made
685. 329Deductions from earnings not to exceed earnings
686. 330Prevention of double deductions
687. 331Order for making deductions
688. 332Meaning of “the deductibility provisions”
689. Chapter 2: Deductions for employee’s expenses
690. Introduction
691. 333Scope of this Chapter: expenses paid by the employee
692. 334Effect of reimbursement etc.
693. 335Application of deductions provisions: “earnings charged on receipt” and “earnings charged on remittance”
694. General rule for deduction of employee’s expenses
695. 336Deductions for expenses: the general rule
696. Travel expenses
697. 337Travel in performance of duties
698. 338Travel for necessary attendance
699. 339Meaning of “workplace” and “permanent workplace”
700. 339ATravel for necessary attendance: employment intermediaries
701. 340Travel between group employments
702. 340ATravel between linked employments
703. 341Travel at start or finish of overseas employment
704. 342Travel between employments where duties performed abroad
705. Fees and subscriptions
706. 343Deduction for professional membership fees
707. 344Deduction for annual subscriptions
708. 345Decisions of an officer of Revenue and Customs under section 344
709. Employee liabilities and indemnity insurance
710. 346Deduction for employee liabilities and expenses
711. 347Payments made after leaving the employment
712. 348Liabilities related to the employment
713. 349Meaning of “qualifying insurance contract”
714. 350Connected contracts
715. Expenses of ministers of religion
716. 351Expenses of ministers of religion
717. Agency fees paid by entertainers
718. 352Limited deduction for agency fees paid by entertainers
719. Special rules for earnings with a foreign element
720. 353Deductions from earnings charged on remittance
721. 354Disallowance of expenses relating to earnings taxed on different basis or untaxed
722. 355Deductions for corresponding payments by qualifying new resident employees with foreign employers
723. Disallowance of business entertainment and gifts expenses
724. 356Disallowance of business entertainment and gifts expenses
725. 357Business entertainment and gifts: exception where employer’s expenses disallowed
726. 358Business entertainment and gifts: other exceptions
727. Other rules preventing deductions of particular kinds
728. 359Disallowance of travel expenses: mileage allowances and reliefs
729. 360Disallowance of certain accommodation expenses of MPs and other representatives
730. 360ASocial security contributions
731. 360BAdditional household expenses
732. Chapter 3: Deductions from benefits code earnings
733. Introduction
734. 361Scope of this Chapter: cost of benefits deductible as if paid by employee
735. Deductions where amounts treated as earnings under the benefits code
736. 362Deductions where non-cash voucher provided
737. 363Deductions where credit-token provided
738. 364Deductions where living accommodation provided
739. 365Deductions where certain employment-related benefits provided
740. Chapter 4: Fixed allowances for employee’s expenses
741. Introduction
742. 366Scope of this Chapter: amounts fixed by Treasury
743. Fixed sum deductions
744. 367Fixed sum deductions for repairing and maintaining work equipment
745. 368Fixed sum deductions from earnings payable out of public revenue
746. Chapter 5: Deductions for earnings representing benefits or reimbursed expenses
747. Introduction
748. 369Scope of this Chapter: earnings representing benefits or reimbursed expenses
749. Travel costs and expenses where duties performed abroad
750. 370Travel costs and expenses where duties performed abroad: employee’s travel
751. 371Travel costs and expenses where duties performed abroad: visiting spouse’s , civil partner's or child’s travel
752. 372Where seafarers' duties are performed
753. Travel costs and expenses of non-resident or qualifying new resident employees where duties performed in UK
754. 373Non-resident or qualifying new resident employee’s travel costs and expenses where duties performed in UK
755. 374Non-resident or qualifying new resident employee’s spouse’s , civil partner's or child’s travel costs and expenses where duties performed in UK
756. 375Meaning of “qualifying arrival date”
757. Foreign accommodation and subsistence costs and expenses
758. 376Foreign accommodation and subsistence costs and expenses (overseas employments)
759. Personal security assets and services
760. 377Costs and expenses in respect of personal security assets and services
761. Chapter 6: Deductions from seafarers' earnings
762. 378Deduction from seafarers' earnings: eligibility
763. 379Calculating the deduction
764. 380Limit on deduction where UK duties etc. make amount unreasonable
765. 381Taking account of other deductions
766. 382Duties on board ship
767. 383Place of performance of incidental duties
768. 384Meaning of employment “as a seafarer”
769. 385Meaning of “ship”
770. Part 6: Employment income: income which is not earnings or share-related
771. Chapter 1: Payments to non-approved pension schemes Repealed
772. 386Charge on payments to non-approved retirement benefits schemes Repealed
773. 387Meaning of “non-approved retirement benefits scheme” Repealed
774. 388Apportionment of payments in respect of more than one employee Repealed
775. 389Exception: employments where earnings charged on remittance Repealed
776. 390Exception: non-domiciled employees with foreign employers Repealed
777. 391Exception: seafarers with overseas earnings Repealed
778. 392Relief where no benefits are paid or payable Repealed
779. Chapter 2: Benefits from employer-financed retirement benefits
780. Benefits treated as employment income
781. 393Application of this Chapter
782. 393AEmployer-financed retirement benefits scheme
783. 393BRelevant benefits
784. 394Charge on benefit to which this Chapter applies
785. 394ATemporary non-residents
786. 395Reduction where employee has contributed
787. 395ABenefits under old section 222 schemes not taxed by virtue of section 394
788. 395BExemption or reduction for foreign service
789. 395CMeaning of “foreign service” in section 395B
790. 396Certain lump sums not taxed by virtue of section 394 Repealed
791. 397Certain lump sums: calculation of amount taxed by virtue of section 394 Repealed
792. Valuation of benefits etc.
793. 398Valuation of benefits
794. 399Employment-related loans: interest treated as paid
795. Interpretation
796. 399AResponsible person
797. 400Interpretation
798. Chapter 3: Payments and benefits on termination of employment etc.
799. Preliminary
800. 401Application of this Chapter
801. 402Meaning of “benefit”
802. Payments and benefits treated as employment income
803. 402ASplit of payments and other benefits between sections 402B and 403
804. 402BTermination awards not benefiting from threshold to be treated as earnings
805. 402CThe termination awards to which section 402B applies
806. 402D“Post-employment notice pay”
807. 402EMeaning of “trigger date” and “post-employment notice period” in section 402D
808. 403Charge on payment or other benefit where threshold applies
809. 404How the £30,000 threshold applies
810. 404AAmounts charged to be treated as highest part of total income
811. 404BPower to vary threshold
812. Exceptions and reductions
813. 405Exception for certain payments exempted when received as earnings
814. 406Exception for death or disability payments and benefits
815. 407Exception for payments and benefits under tax-exempt pension schemes
816. 408Exception for contributions to registered pension schemes
817. 409Exception for payments and benefits in respect of certain legal expenses etc and indemnity insurance
818. 410Exception for payments and benefits in respect of certain legal expenses etc and indemnity insurance: individual deceased
819. 411Exception for payments and benefits for forces
820. 412Exception for payments and benefits provided by foreign governments etc.
821. 413Exception in certain cases of foreign service
822. 413AException for payment of certain legal costs
823. 414Reduction in other cases of foreign service
824. 414AException for payments and benefits under section 615(3) schemes
825. 414BException in certain cases of foreign service as seafarer
826. 414CReduction in other cases of foreign service as seafarer
827. General and supplementary provisions
828. 415Valuation of benefits
829. 416Notional interest treated as paid if amount charged for beneficial loan
830. Part 7: Employment income: income and exemptions relating to securities
831. Chapter 1: Introduction
832. General
833. 417Scope of Part 7
834. 418Other related provisions
835. 419Negative amounts treated as nil
836. Interpretation of Chapters 1 to 5
837. 420Meaning of “securities” etc
838. 421Meaning of “market value” etc
839. 421AMeaning of “consideration”
840. Application of Chapters 2 to 4A
841. 421BApplication of Chapters 2 to 4A
842. 421CAssociated persons
843. 421DReplacement and additional securities and changes in interests
844. 421EExclusions: residence etc Repealed
845. 421FExclusions: public offers
846. 421GExclusions: approved plan or scheme securities Repealed
847. 421HMeaning of “employee-controlled” etc
848. 421IConsideration for acquisition of employment-related securities
849. Information
850. 421JDuty to provide information
851. 421JAAnnual returns
852. 421JBReturns to be given electronically
853. 421JCPenalties for late returns
854. 421JDPenalty if information not given correctly
855. 421JEAssessment of penalties
856. 421JFAppeals
857. 421KReportable events
858. 421LPersons to whom section 421J applies
859. Chapter 2: Restricted securities
860. Introduction
861. 422Application of this Chapter
862. 423“Restricted securities” and “restricted interest in securities”
863. 424Exceptions
864. Tax exemption on acquisition
865. 425No charge in respect of acquisition in certain cases
866. Tax charge on post-acquisition chargeable events
867. 426Charge on occurrence of chargeable event
868. 427Chargeable events
869. 428Amount of charge
870. 428ARelief for secondary Class 1 contributions met by employee
871. 429Case outside charge under section 426
872. 430Election for outstanding restrictions to be ignored
873. 430AApplication of this Chapter where securities exchanged for further securities
874. 431Election for full or partial disapplication of this Chapter
875. 431AShares under tax advantaged plan or scheme
876. 431BSecurities acquired for purpose of avoidance
877. 432Definitions
878. Chapter 3: Convertible securities
879. Introduction
880. 435Application of this Chapter
881. 436“Convertible securities”
882. Tax relief on acquisition
883. 437Adjustment of charge
884. Tax charge on post-acquisition chargeable events
885. 438Charge on occurrence of chargeable event
886. 439Chargeable events
887. 440Amount of charge
888. 441Amount of gain realised on occurrence of chargeable event
889. 442Amount of consideration given for entitlement to convert
890. 442ARelief for secondary Class 1 contributions met by employee
891. 443Case outside charge under section 438
892. Supplementary
893. 444Definitions
894. Chapter 3A: Securities with artificially depressed market value
895. Introduction
896. 446AApplication of this Chapter
897. Tax charge on acquisition
898. 446BCharge on acquisition
899. 446CAmount of charge
900. 446DRestricted securities and convertible securities
901. Other tax charges
902. 446ECharge on restricted securities
903. 446FAdjustment of market value: conditional interests
904. 446GAdjustment of market value: consideration for entitlement to convert
905. 446HAdjustment of market value: charge on conversion
906. 446IAdjustment of consideration or benefit received
907. 446IADisapplication of exceptions from charges
908. Supplementary
909. 446JDefinitions
910. Chapter 3B: Securities with artificially enhanced market value
911. Introduction
912. 446KApplication of this Chapter
913. Charge on non-commercial increases
914. 446LCharge on non-commercial increases
915. 446MSecurities subject to restriction on valuation date
916. 446NSecurities subject to restriction during relevant period
917. 446NADisapplication of exceptions from charges
918. Supplementary
919. 446O“Relevant period” and “valuation date”
920. 446PDefinitions
921. Chapter 3C: Securities acquired for less than market value
922. 446QApplication of this Chapter
923. 446RCase outside this Chapter
924. 446SNotional loan
925. 446TAmount of notional loan
926. 446UDischarge of notional loan
927. 446UAPre-acquisition avoidance cases
928. 446VChapter to be additional to other income tax charges
929. 446WDefinitions
930. Chapter 3D: Securities disposed of for more than market value
931. 446XApplication of this Chapter
932. 446YAmount treated as income
933. 446ZDefinitions
934. Chapter 4: Post-acquisition benefits from securities
935. 447Charge on other chargeable benefits from securities
936. 448Amount of charge
937. 449Case outside this Chapter
938. 450Definitions
939. Tax charge where restrictions or rights varied
940. 451Amount of charge Repealed
941. 452Cases outside charge under section 449 Repealed
942. Tax charge on increase in value of shares of dependent subsidiaries
943. 453Charge on increase in value of shares of dependent subsidiary Repealed
944. 454Chargeable increases Repealed
945. 455Amount of charge Repealed
946. 456Cases outside charge under section 453 Repealed
947. Tax charge on other benefits from shares
948. 457Charge on other chargeable benefits from shares Repealed
949. 458Chargeable benefits Repealed
950. 459Amount of charge Repealed
951. 460Cases outside charge under section 457 Repealed
952. Supplementary provisions
953. 461Related acquisitions of additional shares Repealed
954. 462Company reorganisations etc. Repealed
955. 463Disposals of shares to connected persons etc. ignored Repealed
956. 464Application to interests in shares Repealed
957. 465Duty to notify acquisitions of shares or interests in shares Repealed
958. 466Duty to notify chargeable events and chargeable benefits Repealed
959. Interpretation
960. 467Meaning of “dependent subsidiary” Repealed
961. 468Meaning of “employee-controlled” Repealed
962. 469Shares “held by outside shareholders” Repealed
963. 470Minor definitions Repealed
964. Chapter 4A: Shares in research institution spin-out companies
965. Introduction
966. 451Application of this Chapter
967. Tax relief on acquisition
968. 452Market value on acquisition
969. Tax relief following acquisition
970. 453Taxable amount under Chapter 4
971. Disapplication of Chapters 2 and 3B
972. 454Deemed election for disapplication of Chapter 2
973. 455Disapplication of Chapter 3B
974. Supplementary
975. 456Meaning of “intellectual property” and “transfer”
976. 457Meaning of “research institution”
977. 458Meaning of “involved in research”
978. 459Transfer of intellectual property by controlled company
979. 460Definitions
980. Chapter 5: Securities options
981. Introduction
982. 471Options to which this Chapter applies
983. 472Associated persons
984. 473Introduction to taxation of securities options
985. 474Cases where this Chapter does not apply Repealed
986. Tax relief on acquisition of option
987. 475No charge in respect of acquisition of option
988. Tax charge on post-acquisition chargeable events
989. 476Charge on occurrence of chargeable event
990. 477Chargeable events
991. 478Amount of charge
992. 479Amount of gain realised on occurrence of chargeable event
993. 480Deductible amounts
994. 481Relief for secondary Class 1 contributions met by employee
995. 482Relief for special contribution met by employee
996. Supplementary provisions
997. 483Application of this Chapter where option exchanged for another
998. 484Definitions
999. Supplementary provisions
1000. 485Application of this Chapter where share option exchanged for another Repealed
1001. 486Duty to notify matters relating to share options Repealed
1002. 487Minor definitions Repealed
1003. Chapter 6: ... share incentive plans
1004. Introduction
1005. 488... Share incentive plans (SIPs)
1006. Scope of tax advantages
1007. 489Operation of tax advantages in connection with Schedule 2 SIP
1008. Tax advantages connected with award of shares
1009. 490No charge on award or acquisition of shares: general
1010. 491No charge on award of shares as taxable benefit Repealed
1011. 492No charge on partnership share money deducted from salary
1012. 493No charge on acquisition of dividend shares
1013. Tax advantages connected with holding of shares
1014. 494No charge on removal of restrictions applying to shares Repealed
1015. 495No charge on increase in value of shares of dependent subsidiary Repealed
1016. 496No charge on cash dividend retained for reinvestment
1017. Tax advantages connected with shares ceasing to be subject to plan
1018. 497Limitations on charges on shares ceasing to be subject to plan
1019. 498No charge on shares ceasing to be subject to plan in certain circumstances
1020. Tax advantages: supplementary
1021. 499No charge in respect of incidental expenditure
1022. Scope of tax charges
1023. 500Operation of tax charges in connection with Schedule 2 SIP
1024. Charges connected with holding of shares
1025. 501Charge on capital receipts in respect of plan shares
1026. 502Meaning of “capital receipt” in section 501
1027. 503Charge on partnership share money paid over to employee
1028. 504Charge on cancellation payments in respect of partnership share agreement
1029. Charges connected with shares ceasing to be subject to plan
1030. 505Charge on free or matching shares ceasing to be subject to plan
1031. 506Charge on partnership shares ceasing to be subject to plan
1032. 507Charge on disposal of beneficial interest during holding period
1033. 508Identification of shares ceasing to be subject to plan
1034. PAYE
1035. 509Modification of section 696 where charge on shares ceasing to be subject to plan
1036. 510Payments by trustees to employer company on shares ceasing to be subject to plan
1037. 511PAYE deductions to be made by trustees on shares ceasing to be subject to plan
1038. 512Disposal of beneficial interest by participant
1039. 513Capital receipts: payments by trustees to employer company
1040. 514Capital receipts: PAYE deductions to be made by trustees
1041. Other tax consequences
1042. 515Tax advantages and charges under other Acts
1043. Chapter 7: ... SAYE option schemes
1044. Introduction
1045. 516... SAYE option schemes
1046. 517Share options to which this Chapter applies
1047. Tax advantages
1048. 518No charge in respect of receipt of option Repealed
1049. 519No charge in respect of exercise of option
1050. 520No charge in respect of post-acquisition benefits Repealed
1051. Chapter 8: ... CSOP schemes
1052. Introduction
1053. 521... CSOP schemes
1054. 522Share options to which this Chapter applies
1055. Tax advantages
1056. 523No charge in respect of receipt of option Repealed
1057. 524No charge in respect of receipt of option
1058. 525No charge in respect of post-acquisition benefits Repealed
1059. Tax charge
1060. 526Charge where option granted at a discount
1061. Chapter 9: Enterprise management incentives
1062. Introduction
1063. 527Enterprise management incentives: qualifying options
1064. Tax advantages: receipt of option
1065. 528No charge on receipt of qualifying option Repealed
1066. Tax advantages: exercise of option
1067. 529Scope of tax advantages: option must be exercised by the specified anniversary
1068. 530No charge on exercise of option to acquire shares at market value
1069. 531Limitation of charge on exercise of option to acquire shares below market value
1070. Tax advantages where disqualifying events
1071. 532Modified tax consequences following disqualifying events
1072. 533Disqualifying events
1073. 534Disqualifying events relating to relevant company
1074. 535Disqualifying events relating to employee
1075. 536Other disqualifying events
1076. 537Alterations of share capital for purposes of section 536
1077. 538Share conversions excluded for purposes of section 536
1078. 539CSOP and other options relevant for purposes of section 536
1079. Tax advantages: taxable benefits
1080. 540No charge on acquisition of shares as taxable benefit
1081. Other income tax consequences
1082. 541Effects on other income tax charges
1083. Chapter 10: Priority share allocations
1084. Exemption where offer made to both public and employees
1085. 542Exemption: offer made to public and employees
1086. 543Discount not covered by exemption in section 542
1087. Exemption where different offers made to public and employees
1088. 544Exemption: different offers made to public and employees
1089. 545Discount not covered by exemption in section 544
1090. Supplementary provisions
1091. 546Meaning of being entitled “on similar terms”
1092. 547Meaning and amount or value of “registrant discount”
1093. 548Minor definitions
1094. Chapter 11: Supplementary provisions about employee benefit trusts
1095. Introduction
1096. 549Application of this Chapter
1097. Employee benefit trusts
1098. 550Meaning of “employee benefit trust”
1099. 551“Qualifying disposals” for purposes of section 550
1100. Attribution of interests in company
1101. 552Attribution of interest in company to beneficiary or associate
1102. 553Meaning of “appropriate percentage” for purposes of section 552
1103. 554Attribution of further interest in company
1104. Part 7A: Employment income provided through third parties
1105. Chapter 1: Application etc
1106. Application: main case
1107. 554AApplication of Chapter 2 : main case
1108. Application: close companies
1109. 554AAApplication of Chapter 2: close companies
1110. 554ABMeaning of “relevant transaction”
1111. 554ACMeaning of “excluded transaction”
1112. 554ADSection 554AA: meaning of “director”
1113. 554AESection 554AA: meaning of “material interest”
1114. 554AFSection 554AA: supplementary
1115. Relevant steps
1116. 554BRelevant steps: earmarking etc of sum of money or asset
1117. 554CRelevant steps: payment of sum, transfer of asset etc
1118. 554DRelevant steps: making asset available
1119. Exclusions
1120. 554EExclusions: steps under certain schemes etc
1121. 554FExclusions: commercial transactions
1122. 554GExclusions: transactions under employee benefit packages
1123. 554HExclusions: earmarking of deferred remuneration
1124. 554IExclusions: introduction to sections 554J to 554M
1125. 554JExclusions: earmarking for employee share schemes (1)
1126. 554KExclusions: earmarking for employee share schemes (2)
1127. 554LExclusions: earmarking for employee share schemes (3)
1128. 554MExclusions: earmarking for employee share schemes (4)
1129. 554NExclusions: other cases involving employment-related securities etc
1130. 554OExclusions: employee car ownership schemes
1131. 554OAExclusions: transfer of employment-related loans
1132. 554PExclusions: employment income exemptions under Part 4
1133. 554QExclusions: income arising from earmarked sum or asset
1134. 554RExclusions: acquisitions out of sums or assets
1135. 554RAExclusions: relevant repayments
1136. 554SExclusions: pension income chargeable under Part 9 etc
1137. 554TExclusions: employee pension contributions
1138. 554UExclusions: pre-6 April 2006 contributions to employer-financed retirement benefit schemes
1139. 554VExclusions: purchases of annuities out of pension scheme rights
1140. 554WExclusions: certain retirement benefits etc
1141. 554XExclusions: transfers between certain foreign pension schemes
1142. 554XAExclusions: payments in respect of a tax liability
1143. 554YPower to exclude other relevant steps
1144. Interpretation
1145. 554ZInterpretation: general
1146. 554Z1Interpretation: persons linked with A
1147. Chapter 2: Treatment of relevant step for income tax purposes
1148. Employment income
1149. 554Z2Value of relevant step to count as employment income
1150. 554Z2AException to section 554Z2(1): close companies
1151. 554Z3Value of relevant step
1152. 554Z4Residence issues
1153. 554Z4ATemporary non-residents
1154. 554Z5Overlap with money or asset subject to earlier tax liability
1155. 554Z6Overlap with certain earnings
1156. 554Z7Exercise price of share options
1157. 554Z8Cases where consideration given for relevant step
1158. Remittance basis
1159. 554Z9Remittance basis: A did not meet section 26A requirement
1160. 554Z10Remittance basis: A met section 26A requirement
1161. 554Z11Remittance basis: supplementary
1162. 554Z11ATemporary non-residents
1163. Double taxation: earlier income tax liability
1164. 554Z11BEarlier income tax liability: application of section 554Z11C
1165. 554Z11CEarlier income tax liability: treatment of payments
1166. 554Z11DEarlier income tax liability: provisional payments of tax
1167. 554Z11EApplication for provisional payments to be treated as payment of tax
1168. 554Z11FProvisional payments of tax: further provision
1169. 554Z11GEarlier income tax liability: supplementary provision
1170. Supplementary
1171. 554Z12Relevant step taken after A's death etc
1172. 554Z13Subsequent income tax liability
1173. 554Z14Relief where earmarking not followed by further relevant step
1174. 554Z15Location of employment duties
1175. Chapter 3: Undertakings given by employers etc in relation to retirement benefits etc
1176. 554Z16Application etc
1177. 554Z17Employer etc to be treated as relevant third person etc
1178. 554Z18Earmarking etc
1179. 554Z19Provision of security
1180. 554Z20Valuation of step within section 554Z19
1181. 554Z21Relief for earmarking or security not followed by contribution or relevant benefit
1182. Part 8: Former employees: deductions for liabilities
1183. Deductions in calculating net income
1184. 555Former employee entitled to deduction in calculating net income
1185. 556Deductible payments made outside the time limits allowed
1186. 556ADeductible payments made pursuant to tax avoidance arrangements
1187. 557Deductible payments wholly or partly borne by the former employer etc.
1188. Interpretation
1189. 558Meaning of “deductible payment”
1190. 559Liabilities related to the former employment
1191. 560Meaning of “qualifying insurance contract”
1192. 561Connected contracts
1193. 562Meaning of “former employee” and “employment”
1194. 563Other interpretation
1195. 564Application of this Part to office-holders
1196. Part 9: Pension income
1197. Chapter 1: Introduction
1198. 565Structure of Part 9
1199. Chapter 2: Tax on pension income
1200. 566Nature of charge to tax on pension income and relevant definitions
1201. 567Amount charged to tax
1202. 567ACases in which Part 7A has applied to source of pension income
1203. 567BCases where inheritance tax is paid in respect of pension death benefit
1204. 568Person liable for tax
1205. Chapter 3: United Kingdom pensions: general rules
1206. 569United Kingdom pensions
1207. 570“Pension”: interpretation
1208. 571Taxable pension income
1209. 572Person liable for tax
1210. 572ATemporary non-residents
1211. Chapter 4: Foreign pensions: general rules
1212. 573Foreign pensions
1213. 574“Pension”: interpretation
1214. 574A“Pension”: relevant lump sums
1215. 575Taxable pension income
1216. 576Person liable for tax
1217. 576ATemporary non-residents
1218. Chapter 5: United Kingdom social security pensions
1219. 577United Kingdom social security pensions
1220. 578Taxable pension income
1221. 579Person liable for tax
1222. Chapter 5A: PENSIONS UNDER REGISTERED PENSION SCHEMES
1223. 579APensions
1224. 579BTaxable pension income
1225. 579CPerson liable for tax
1226. 579CZAExemption for beneficiaries' income withdrawal in some cases
1227. 579CATemporary non-residents
1228. 579CBRefund of overpaid inheritance tax treated as pension
1229. 579DInterpretation
1230. Chapter 6: Approved retirement benefits schemes Repealed
1231. Pensions and annuities Repealed
1232. 580Pensions and annuities Repealed
1233. 581Taxable pension income Repealed
1234. 582Person liable for tax Repealed
1235. Unauthorised payments Repealed
1236. 583Unauthorised payments Repealed
1237. 584Taxable pension income Repealed
1238. 585Person liable for tax Repealed
1239. Interpretation etc. Repealed
1240. 586Meaning of “retirement benefits scheme” etc. Repealed
1241. 587Application to marine pilots' benefit fund Repealed
1242. 588Meaning of “employee” , “former civil partner and “ex-spouse” Repealed
1243. 589Regulations Repealed
1244. Chapter 7: Former approved superannuation funds
1245. Annuities
1246. 590Annuities Repealed
1247. 591Taxable pension income Repealed
1248. 592Person liable for tax Repealed
1249. Unauthorised payments
1250. 593Unauthorised payments: application of section 583 Repealed
1251. Interpretation
1252. 594Meaning of “former approved superannuation fund” Repealed
1253. Chapter 8: Approved personal pension schemes
1254. Annuities
1255. 595Annuities Repealed
1256. 596Taxable pension income Repealed
1257. 597Person liable for tax Repealed
1258. Income withdrawals
1259. 598Income withdrawals Repealed
1260. 599Taxable pension income Repealed
1261. 600Person liable for tax Repealed
1262. Unauthorised personal pension payments
1263. 601Unauthorised personal pension payments Repealed
1264. 602Taxable pension income Repealed
1265. 603Person liable for tax Repealed
1266. Interpretation
1267. 604Meaning of “personal pension scheme” and related expressions Repealed
1268. Chapter 9: Retirement annuity contracts
1269. 605Annuities Repealed
1270. 606Meaning of “retirement annuity contract” Repealed
1271. 607Taxable pension income Repealed
1272. 608Person liable for tax Repealed
1273. Chapter 10: Other employment-related annuities
1274. 609Annuities for the benefit of dependants
1275. 610Annuities under non-registered occupational pension schemes
1276. 611Annuities in recognition of another’s services
1277. 611AExemptions from sections 609 to 611
1278. 612Taxable pension income: UK annuities
1279. 613Taxable pension income: foreign annuities
1280. 614Person liable for tax
1281. Chapter 11: Certain overseas government pensions paid in the UK
1282. 615Certain overseas government pensions paid in the United Kingdom
1283. 616Taxable pension income
1284. 617Deduction allowed from taxable pension income
1285. 618Person liable for tax
1286. Chapter 12: House of Commons Members' Fund
1287. 619The House of Commons Members' Fund
1288. 620Meaning of “House of Commons Members' Fund”
1289. 621Taxable pension income
1290. 622Person liable for tax
1291. Chapter 13: Return of surplus employee additional voluntary contributions
1292. 623Return of surplus employee additional voluntary contributions Repealed
1293. 624Taxable pension income Repealed
1294. 625Person liable for tax Repealed
1295. 626Income tax treated as paid Repealed
1296. 627Meaning of “grossing up” Repealed
1297. 628Interpretation Repealed
1298. Chapter 14: Pre-1973 pensions paid under the Overseas Pensions Act 1973
1299. 629Pre-1973 pensions paid under the Overseas Pensions Act 1973
1300. 630Interpretation
1301. 631Taxable pension income
1302. 632Person liable for tax
1303. Chapter 15: Voluntary annual payments
1304. 633Voluntary annual payments
1305. 634Taxable pension income: UK voluntary annual payments
1306. 635Taxable pension income: foreign voluntary annual payments
1307. 636Person liable for tax
1308. Chapter 15A: Lump sums under registered pension schemes
1309. 636AExemptions and liabilities for certain lump sums under registered pension schemes Repealed
1310. 636AATaxable lump sum death benefits Repealed
1311. 636BTrivial commutation and winding-up lump sums Repealed
1312. 636CTrivial commutation and winding-up lump sum death benefits Repealed
1313. Introduction
1314. 637Introduction
1315. Tax treatment of authorised lump sums
1316. 637APension commencement lump sums
1317. 637BPension commencement excess lump sums
1318. 637CSerious ill-health lump sums
1319. 637DUncrystallised funds pension lump sums
1320. 637EShort service refund lump sum
1321. 637FRefund of excess contributions lump sums
1322. 637GTrivial commutation lump sums and winding-up lump sums
1323. Tax treatment of authorised lump sum death benefits
1324. 637HDefined benefits lump sum death benefits
1325. 637IPension protection lump sum death benefits
1326. 637JUncrystallised funds lump sum death benefits
1327. 637KAnnuity protection lump sum death benefits
1328. 637LDrawdown pension fund lump sum death benefits
1329. 637MFlexi-access drawdown lump sum death benefits
1330. 637NTrivial commutation lump sum death benefits
1331. Allowances
1332. 637PIndividual’s lump sum allowance
1333. 637QAvailability of individual’s lump sum allowance
1334. 637RIndividual’s lump sum and death benefit allowance
1335. 637SAvailability of individual’s lump sum and death benefit allowance
1336. 637TAvailability of individual’s lump sum and death benefit allowance where multiple lump sum death benefits paid
1337. 637UAvailability of individual’s allowances where lump sums or lump sum death benefits already paid by non-UK schemes
1338. Chapter 16: Exemption for certain lump sums
1339. Chapter 17: Exemptions: any taxpayer
1340. 638Awards for bravery
1341. 639Pensions in respect of death due to military or war service
1342. 640Exemption under section 639 where income withheld
1343. 640ALump sums provided under armed forces early departure scheme
1344. 641Wounds and disability pensions
1345. 642Compensation for National-Socialist persecution
1346. 642ANetherlands Benefit Act for Victims of Persecution 1940-1945
1347. 643Malawi, Trinidad and Tobago and Zambia government pensions
1348. 644Pensions payable where employment ceased due to disablement
1349. 644AHealth and employment insurance payments
1350. 645Social security pensions: increases in respect of children
1351. 646Former miners etc: coal and allowances in lieu of coal
1352. 646AForeign pensions of consular employees
1353. 646BRegistered schemes: beneficiaries' annuities from unused funds
1354. 646CRegistered schemes: beneficiaries' annuities from drawdown funds
1355. 646DNon-registered schemes: beneficiaries' annuities from unused funds
1356. 646ENon-registered schemes: beneficiaries' annuities from drawdown funds
1357. 646FInterpretation of sections 646B to 646E
1358. Chapter 18: Exemptions: Non-UK resident taxpayers
1359. 647Introduction and meaning of “foreign residence condition” etc.
1360. 648The Central African Pension Fund
1361. 649Commonwealth government pensions
1362. 650Oversea Superannuation Scheme
1363. 651Overseas Pensions Act 1973
1364. 652Overseas Service Act 1958
1365. 653Overseas Service Pensions Fund
1366. 654The Pensions (India, Pakistan and Burma) Act 1955
1367. Part 10: Social security income etc
1368. Chapter 1: Introduction
1369. 655Structure of Part 10
1370. Chapter 2: Tax on social security income
1371. 656Nature of charge to tax on social security income
1372. 657Meaning of “social security income”, “taxable benefits” etc.
1373. 658Amount charged to tax
1374. 659Person liable for tax
1375. Chapter 3: Taxable UK social security benefits
1376. 660Taxable benefits: UK benefits – Table A
1377. 661Taxable social security income
1378. 662Person liable for tax
1379. Chapter 4: Taxable UK social security benefits: exemptions
1380. Incapacity benefit
1381. 663Long-term incapacity benefit: previous entitlement to invalidity benefit
1382. 664Short-term incapacity benefit not payable at the higher rate
1383. Income support and relevant welfare supplementary payments
1384. 665Exempt unless payable to a person involved in a trade dispute
1385. 666Child maintenance bonus
1386. 667Amounts in excess of taxable maximum
1387. 668Taxable maximum
1388. 669Interpretation
1389. Jobseeker’s allowance and relevant welfare supplementary payments
1390. 670Child maintenance bonus
1391. 671Amounts in excess of taxable maximum
1392. 672Taxable maximum: general
1393. 673Taxable maximum: income-based jobseeker’s allowance
1394. 674Taxable maximum: contribution-based jobseeker’s allowance
1395. 675Interpretation
1396. Increases in respect of children
1397. 676Increases in respect of children
1398. Chapter 5: UK social security benefits wholly exempt from income tax
1399. 677UK social security benefits wholly exempt from tax: Table B
1400. Chapter 6: Taxable foreign benefits
1401. 678Taxable benefits: foreign benefits
1402. 679Taxable social security income
1403. 680Person liable for tax
1404. Chapter 7: Taxable and other foreign benefits: exemptions
1405. 681Taxable and other foreign benefits: exemptions
1406. 681AForeign benefits of consular employees
1407. Chapter 8: High income child benefit charge
1408. 681BHigh income child benefit charge
1409. 681CThe amount of the charge
1410. 681DExtension of charge in cases where child not living with claimant
1411. 681ESpecial cases
1412. 681FAlteration of income limit etc by Treasury order
1413. 681GMeaning of “partner”
1414. 681HOther interpretation provisions
1415. Chapter 9: Winter fuel payment charge
1416. 681IWinter fuel payment charge
1417. 681JAlteration of income limit by Treasury order
1418. Part 11: Pay As You Earn
1419. Chapter 1: Introduction
1420. 682Scope of this Part
1421. 683PAYE income
1422. Chapter 2: PAYE: general
1423. 684PAYE regulations
1424. 685Tax tables
1425. 686Meaning of “payment”
1426. Chapter 3: PAYE: special types of payer or payee
1427. 687Payments by intermediary
1428. 687APayment of employment income under Part 7A
1429. 688Agency workers
1430. 688AManaged service companies: recovery from other persons
1431. 688AAWorkers' services provided through intermediaries: recovery of PAYE
1432. 688ABWorkers’ providing services through intermediaries etc: cases where taxes already paid
1433. 688BTravel expenses of workers providing services through intermediaries: recovery of unpaid tax
1434. 689Employee of non-UK employer
1435. 689AOil and gas workers on the continental shelf
1436. 690Internationally mobile employees
1437. 690AEmployer notification for internationally mobile employees
1438. 690BDirection by HMRC in relation to internationally mobile employees
1439. 690CEmployees who were internationally mobile etc. before 2025-26
1440. 690DEmployer notification for qualifying new residents or treaty non-residents
1441. 690EDirection by HMRC in relation to qualifying new residents or treaty non-residents
1442. 691Mobile UK workforce
1443. 692Organised arrangements for sharing tips
1444. Chapter 4: PAYE: special types of income
1445. Income provided by means of vouchers and tokens
1446. 693Cash vouchers
1447. 694Non-cash vouchers
1448. 695Credit-tokens
1449. Income provided in other ways
1450. 695AEmployment income under Part 7A
1451. 696Readily convertible assets
1452. 697Enhancing the value of an asset
1453. 698PAYE: special charges on employment-related securities
1454. 699PAYE: conversion of shares Repealed
1455. 700PAYE: gains from securities options
1456. 700AEmployment-related securities etc: internationally mobile employees
1457. Supplemental
1458. 701Meaning of “asset”
1459. 702Meaning of “readily convertible asset”
1460. Chapter 5: PAYE settlement agreements
1461. 703Introduction
1462. 704Sums payable by employers under agreements
1463. 705Approximations allowed in calculations
1464. 706Exclusion of general earnings from income etc.
1465. 707Interpretation of this Chapter
1466. Chapter 6: Miscellaneous and supplemental
1467. 707AProvision of additional information to His Majesty’s Revenue and Customs
1468. 708PAYE repayments
1469. 709Additional provision for certain assessments
1470. 710Notional payments: accounting for tax
1471. 711Right to make a return
1472. 712Interpretation of this Part
1473. Part 12: Payroll giving
1474. 713Donations to charity: payroll deduction scheme
1475. 714Meaning of “donations”
1476. 715Approval of schemes: regulation by Treasury
1477. Part 13: Supplementary provisions
1478. Alteration of amounts
1479. 716Alteration of amounts by Treasury order
1480. Priority rule for certain dividends etc
1481. 716APriority rule for dividends etc. of UK resident companies etc.
1482. Employment intermediaries: information powers
1483. 716BEmployment intermediaries to keep, preserve and provide information etc
1484. Orders and regulations
1485. 717Orders and regulations made by Treasury or Commissioners
1486. Interpretation
1487. 718Connected persons
1488. 719Meaning of “control”
1489. 720Meaning of “ an officer of Revenue and Customs ” etc. Repealed
1490. 721Other definitions
1491. Amendments, repeals, citation etc.
1492. 722Consequential amendments
1493. 723Commencement and transitional provisions and savings
1494. 724Repeals and revocations
1495. 725Citation
1496. Schedule 1: Abbreviations and defined expressions
1497. 1Abbreviations of Acts and instruments
1498. Part 2: Index of expressions defined in this Act or ICTA
1499. Paragraph
1500. Schedule 2: ... share incentive plans
1501. Part 1: Introduction
1502. Introduction to Schedule 2 share incentive plans (SIPs)
1503. 1Paragraph 1
1504. SIPs: free shares and partnership shares
1505. 2Paragraph 2
1506. Matching shares
1507. 3Paragraph 3
1508. Group plans
1509. 4Paragraph 4
1510. Meaning of “award of shares”, “participant” etc.
1511. 5Paragraph 5
1512. Part 2: General requirements
1513. General requirements ...: introduction
1514. 6Paragraph 6
1515. The purpose of the plan
1516. 7Paragraph 7
1517. All-employee nature of plan
1518. 8Paragraph 8
1519. Participation on same terms
1520. 9Paragraph 9
1521. No preferential treatment for directors and senior employees
1522. 10Paragraph 10
1523. No further conditions
1524. 11Paragraph 11
1525. No loan arrangements
1526. 12Paragraph 12
1527. Part 3: Eligibility of individuals
1528. Eligibility of individuals: introduction
1529. 13Paragraph 13
1530. Time of eligibility to participate
1531. 14Paragraph 14 Repealed
1532. The employment requirement
1533. 15Paragraph 15 Repealed
1534. Qualifying periods
1535. 16Paragraph 16 Repealed
1536. Meaning of “qualifying company”
1537. 17Paragraph 17 Repealed
1538. Requirement not to participate in other SIPs
1539. 18Paragraph 18 Repealed
1540. Participation in more than one connected SIP in a tax year
1541. 18AParagraph 18A Repealed
1542. The “no material interest” requirement
1543. 19Paragraph 19 Repealed
1544. Meaning of “material interest”
1545. 20Paragraph 20 Repealed
1546. Material interest: options and interests in SIPs
1547. 21Paragraph 21 Repealed
1548. Meaning of “associate”
1549. 22Paragraph 22 Repealed
1550. Meaning of “associate”: trustees of employee benefit trust
1551. 23Paragraph 23 Repealed
1552. Meaning of “associate”: trustees of discretionary trust
1553. 24Paragraph 24 Repealed
1554. Part 4: Types of shares that may be awarded
1555. Types of share that may be awarded: introduction
1556. 25Paragraph 25
1557. Shares must be part of ordinary share capital of certain companies
1558. 26Paragraph 26
1559. Requirement as to listing etc.
1560. 27Paragraph 27
1561. Shares must be fully paid up and not redeemable
1562. 28Paragraph 28
1563. Prohibited shares
1564. 29Paragraph 29
1565. Only certain kinds of restriction allowed
1566. 30Paragraph 30 Repealed
1567. Permitted restrictions: voting rights
1568. 31Paragraph 31 Repealed
1569. Permitted restrictions: provision for forfeiture
1570. 32Paragraph 32 Repealed
1571. Permitted restrictions: pre-emption conditions
1572. 33Paragraph 33 Repealed
1573. Part 5: Free shares
1574. Free shares: introduction
1575. 34Paragraph 34
1576. Maximum annual award
1577. 35Paragraph 35
1578. The holding period
1579. 36Paragraph 36
1580. Holding period: power of participant to direct trustees to accept general offers etc.
1581. 37Paragraph 37
1582. Performance allowances: general application
1583. 38Paragraph 38
1584. Performance allowances: targets and measures
1585. 39Paragraph 39
1586. Performance allowances: information to be given to employees
1587. 40Paragraph 40
1588. Performance allowances: method one
1589. 41Paragraph 41
1590. Performance allowances: method two
1591. 42Paragraph 42
1592. Part 6: Partnership shares
1593. Partnership shares: introduction
1594. 43Paragraph 43
1595. Partnership share agreements
1596. 44Paragraph 44
1597. Deductions from salary
1598. 45Paragraph 45
1599. Maximum amount of deductions
1600. 46Paragraph 46
1601. Minimum amount of deductions
1602. 47Paragraph 47
1603. Notice of possible effect of deductions on benefit entitlement
1604. 48Paragraph 48
1605. Partnership share money held for employee
1606. 49Paragraph 49
1607. Application of money deducted where no accumulation periods
1608. 50Paragraph 50
1609. Accumulation periods
1610. 51Paragraph 51
1611. Application of money deducted in accumulation period
1612. 52Paragraph 52
1613. Restriction on number of shares awarded
1614. 53Paragraph 53
1615. Stopping and re-starting deductions
1616. 54Paragraph 54
1617. Withdrawal from partnership share agreement
1618. 55Paragraph 55
1619. Repayment of partnership share money on plan ceasing to be a Schedule 2 SIP or termination
1620. 56Paragraph 56
1621. Access to partnership shares
1622. 57Paragraph 57
1623. Part 7: Matching shares
1624. Matching shares: introduction
1625. 58Paragraph 58
1626. General requirements for matching shares
1627. 59Paragraph 59
1628. Ratio of matching shares to partnership shares
1629. 60Paragraph 60
1630. Holding period for matching shares
1631. 61Paragraph 61
1632. Part 8: Cash dividends and dividend shares
1633. Reinvestment of cash dividends
1634. 62Paragraph 62
1635. Requirements to be met as regards cash dividends
1636. 63Paragraph 63
1637. Limit on amount reinvested
1638. 64Paragraph 64 Repealed
1639. General requirements as to dividend shares
1640. 65Paragraph 65
1641. Acquisition of dividend shares
1642. 66Paragraph 66
1643. Holding period for dividend shares
1644. 67Paragraph 67
1645. Reinvestment: amounts to be carried forward
1646. 68Paragraph 68
1647. Cash dividends where no requirement to reinvest
1648. 69Paragraph 69
1649. Part 9: Trustees
1650. Requirements etc. relating to trustees: introduction
1651. 70Paragraph 70
1652. Establishment of trustees
1653. 71Paragraph 71
1654. Duty to monitor participants in connected schemes
1655. 71AParagraph 71A
1656. Duty to act in accordance with participant’s directions
1657. 72Paragraph 72
1658. Duty not to dispose of plan shares
1659. 73Paragraph 73
1660. Duty to make payments to participants
1661. 74Paragraph 74
1662. Duty to give notice of award of shares etc.
1663. 75Paragraph 75
1664. Power of trustees to borrow
1665. 76Paragraph 76
1666. Power of trustees to raise funds to subscribe for rights issue
1667. 77Paragraph 77
1668. Acquisition by trustees of shares from employee share ownership trust
1669. 78Paragraph 78 Repealed
1670. Meeting by trustees of PAYE obligations
1671. 79Paragraph 79
1672. Other duties of trustees in relation to tax liabilities
1673. 80Paragraph 80
1674. Part 10: Notification of plans, annual returns and enquiries
1675. Notice of SIP to be given to HMRC
1676. 81AParagraph 81A
1677. Annual returns
1678. 81BParagraph 81B
1679. 81CParagraph 81C
1680. Notices and returns to be given electronically etc
1681. 81DParagraph 81D
1682. 81EParagraph 81E
1683. Enquiries
1684. 81FParagraph 81F
1685. 81GParagraph 81G
1686. 81HParagraph 81H
1687. 81IParagraph 81I
1688. Assessment of penalties
1689. 81JParagraph 81J
1690. Appeals
1691. 81KParagraph 81K
1692. Part 10A: Disqualifying events
1693. 85AParagraph 85A
1694. Part 11: Supplementary provisions
1695. Company reconstructions
1696. 86Paragraph 86
1697. Consequences of company reconstructions
1698. 87Paragraph 87
1699. Treatment of shares acquired under rights issue
1700. 88Paragraph 88
1701. Termination of plan
1702. 89Paragraph 89
1703. Effect of plan termination notice
1704. 90Paragraph 90
1705. Jointly owned companies
1706. 91Paragraph 91
1707. Determination of market value
1708. 92Paragraph 92
1709. Power to require information
1710. 93Paragraph 93
1711. Meaning of “associated company”
1712. 94Paragraph 94
1713. Meaning of participant ceasing to be in relevant employment
1714. 95Paragraph 95
1715. Meaning of shares being withdrawn from plan
1716. 96Paragraph 96
1717. Meaning of shares ceasing to be subject to plan
1718. 97Paragraph 97
1719. Meaning of “the specified retirement age”
1720. 98Paragraph 98 Repealed
1721. Minor definitions
1722. 99Paragraph 99
1723. Index of defined expressions
1724. 100Paragraph 100
1725. Schedule 3: ... SAYE option schemes
1726. Part 1: Introduction
1727. Introduction to Schedule 3 SAYE option schemes
1728. 1Paragraph 1
1729. SAYE option schemes
1730. 2Paragraph 2
1731. Group schemes
1732. 3Paragraph 3
1733. Part 2: General requirements ...
1734. General requirements ...: introduction
1735. 4Paragraph 4
1736. General restriction on contents of scheme
1737. 5Paragraph 5
1738. All-employee nature of scheme
1739. 6Paragraph 6
1740. Participation on similar terms
1741. 7Paragraph 7
1742. No preferential treatment for directors and senior employees
1743. 8Paragraph 8
1744. Part 3: Eligibility of individuals to participate in scheme
1745. Requirements relating to the eligibility of individuals: introduction
1746. 9Paragraph 9
1747. The employment requirement
1748. 10Paragraph 10
1749. The “no material interest” requirement
1750. 11Paragraph 11 Repealed
1751. Meaning of “material interest”
1752. 12Paragraph 12 Repealed
1753. Material interest: options and interests in SIPs
1754. 13Paragraph 13 Repealed
1755. Meaning of “associate”
1756. 14Paragraph 14 Repealed
1757. Meaning of “associate”: trustees of employee benefit trust
1758. 15Paragraph 15 Repealed
1759. Meaning of “associate”: trustees of discretionary trust
1760. 16Paragraph 16 Repealed
1761. Part 4: Shares to which schemes can apply
1762. Requirements relating to shares that may be subject to share options: introduction
1763. 17Paragraph 17
1764. Shares must be ordinary shares of certain companies
1765. 18Paragraph 18
1766. Requirements as to listing
1767. 19Paragraph 19
1768. Shares must be fully paid up and not redeemable
1769. 20Paragraph 20
1770. Only certain kinds of restriction allowed
1771. 21Paragraph 21 Repealed
1772. Requirements as to other shareholdings
1773. 22Paragraph 22
1774. Part 5: Requirement for linked savings arrangement
1775. Requirements as to linked savings arrangement : introduction
1776. 23Paragraph 23
1777. Payments for shares to be linked to approved savings arrangements
1778. 24Paragraph 24
1779. Requirements as to contributions to savings arrangements
1780. 25Paragraph 25
1781. Repayments under a savings arrangement : whether bonuses included
1782. 26Paragraph 26
1783. Part 6: Requirements etc. relating to share options
1784. Requirements etc. relating to share options: introduction
1785. 27Paragraph 27
1786. Requirements as to price for acquisition of shares
1787. 28Paragraph 28
1788. Share options must not be transferable
1789. 29Paragraph 29
1790. Time for exercising options: general
1791. 30Paragraph 30
1792. Requirement to have a “specified age”
1793. 31Paragraph 31 Repealed
1794. Exercise of options: death
1795. 32Paragraph 32
1796. Exercise of options: reaching specified age without retiring
1797. 33Paragraph 33 Repealed
1798. Exercise of options: scheme-related employment ends
1799. 34Paragraph 34
1800. Time when scheme-related employment ends
1801. 35Paragraph 35
1802. Exercise of options: employment in associated company at bonus date
1803. 36Paragraph 36
1804. Exercise of options: company events
1805. 37Paragraph 37
1806. Part 7: Exchange of share options
1807. Exchange of options on company reorganisation
1808. 38Paragraph 38
1809. Requirements about share options granted in exchange
1810. 39Paragraph 39
1811. Part 8: Notification of schemes, annual returns and enquiries
1812. 40ANotice of scheme to be given to HMRC
1813. 40BAnnual returns
1814. 40CParagraph 40C
1815. 40DNotices and returns to be given electronically etc
1816. 40EParagraph 40E
1817. 40FEnquiries
1818. 40GParagraph 40G
1819. 40HParagraph 40H
1820. 40IParagraph 40I
1821. 40JAssessment of penalties
1822. 40KAppeals
1823. Part 9: Supplementary provisions
1824. Power to require information
1825. 45Paragraph 45
1826. Jointly owned companies
1827. 46Paragraph 46
1828. Meaning of “associated company”
1829. 47Paragraph 47
1830. Non-UK company reorganisation arrangements
1831. 47AParagraph 47A
1832. Minor definitions
1833. 48Paragraph 48
1834. Index of defined expressions
1835. 49Paragraph 49
1836. Schedule 4: ... CSOP schemes
1837. Part 1: Introduction
1838. Introduction to Schedule 4 CSOP schemes
1839. 1Paragraph 1
1840. CSOP schemes
1841. 2Paragraph 2
1842. Group schemes
1843. 3Paragraph 3
1844. Part 2: General requirements ...
1845. General requirements ...: introduction
1846. 4Paragraph 4
1847. General restriction on contents of scheme
1848. 5Paragraph 5
1849. Limit on value of shares subject to options
1850. 6Paragraph 6
1851. Part 3: Eligibility of individuals to participate in scheme
1852. Requirements relating to the eligibility of individuals: introduction
1853. 7Paragraph 7
1854. The employment requirement
1855. 8Paragraph 8
1856. The “no material interest” requirement
1857. 9Paragraph 9
1858. Meaning of “material interest”
1859. 10Paragraph 10
1860. Material interest: options and interests in SIPs
1861. 11Paragraph 11
1862. Meaning of “associate”
1863. 12Paragraph 12
1864. Meaning of “associate”: trustees of employee benefit trust
1865. 13Paragraph 13
1866. Meaning of “associate”: trustees of discretionary trust
1867. 14Paragraph 14
1868. Part 4: Shares to which schemes can apply
1869. Requirements relating to shares that may be subject to share options: introduction
1870. 15Paragraph 15
1871. Shares must be ordinary shares of certain companies
1872. 16Paragraph 16
1873. Requirements as to listing
1874. 17Paragraph 17
1875. Shares must be fully paid up and not redeemable
1876. 18Paragraph 18
1877. Only certain kinds of restriction allowed
1878. 19Paragraph 19 Repealed
1879. Requirements as to other shareholdings
1880. 20Paragraph 20 Repealed
1881. Part 5: Requirements etc. relating to share options
1882. Requirements etc. relating to share options: introduction
1883. 21Paragraph 21
1884. General requirements as to terms of option
1885. 21AParagraph 21A
1886. Requirements as to price for acquisition of shares
1887. 22Paragraph 22
1888. Share options must not be transferable
1889. 23Paragraph 23
1890. Exercise of options: ceasing to be director or employee
1891. 24Paragraph 24
1892. Exercise of options: death
1893. 25Paragraph 25
1894. Exercise of options: company events
1895. 25AParagraph 25A
1896. Part 6: Exchange of share options
1897. Exchange of options on company reorganisation
1898. 26Paragraph 26
1899. Requirements about share options granted in exchange
1900. 27Paragraph 27
1901. Part 7: Notification of schemes, annual returns and enquiries
1902. Notice of scheme to be given to HMRC
1903. 28AParagraph 28A
1904. Annual returns
1905. 28BParagraph 28B
1906. 28CParagraph 28C
1907. Notices and returns to be given electronically etc
1908. 28DParagraph 28D
1909. 28EParagraph 28E
1910. Enquiries
1911. 28FParagraph 28F
1912. 28GParagraph 28G
1913. 28HParagraph 28H
1914. 28IParagraph 28I
1915. Assessment of penalties
1916. 28JParagraph 28J
1917. Appeals
1918. 28KParagraph 28K
1919. Part 8: Supplementary provisions
1920. Power to require information
1921. 33Paragraph 33
1922. Jointly owned companies
1923. 34Paragraph 34
1924. Meaning of “associated company”
1925. 35Paragraph 35
1926. Non-UK company reorganisation arrangements
1927. 35ZAParagraph 35ZA
1928. Retirement age
1929. 35AParagraph 35A Repealed
1930. Minor definitions
1931. 36Paragraph 36
1932. Index of defined expressions
1933. 37Paragraph 37
1934. Schedule 5: Enterprise management incentives
1935. Part 1: Introduction
1936. Enterprise management incentives: qualifying options
1937. 1Paragraph 1
1938. Meaning of “the relevant company” and “the employer company”
1939. 2Paragraph 2
1940. Part 2: General requirements
1941. General requirements: introduction
1942. 3Paragraph 3
1943. Purpose of granting the option
1944. 4Paragraph 4
1945. Maximum entitlement of employee: financial limit on unexercised options
1946. 5Paragraph 5
1947. Maximum entitlement of employee: further limit of 3 years
1948. 6Paragraph 6
1949. Maximum value of options in respect of relevant company’s shares
1950. 7Paragraph 7
1951. Part 3: Qualifying companies
1952. Qualifying companies: introduction
1953. 8Paragraph 8
1954. The independence requirement
1955. 9Paragraph 9
1956. The qualifying subsidiaries requirement
1957. 10Paragraph 10
1958. Meaning of “qualifying subsidiary”
1959. 11Paragraph 11
1960. The property managing subsidiaries requirement
1961. 11AParagraph 11A
1962. Meaning of “qualifying 90% subsidiary”
1963. 11BParagraph 11B
1964. The gross assets requirement
1965. 12Paragraph 12
1966. The number of employees requirement
1967. 12AParagraph 12A
1968. The trading activities requirement: single company
1969. 13Paragraph 13
1970. The trading activities requirement: parent company
1971. 14Paragraph 14
1972. The UK permanent establishment requirement
1973. 14AParagraph 14A
1974. Meaning of “qualifying trade”
1975. 15Paragraph 15
1976. Excluded activities
1977. 16Paragraph 16
1978. Excluded activities: wholesale and retail distribution
1979. 17Paragraph 17
1980. Excluded activities: leasing of certain ships
1981. 18Paragraph 18
1982. Excluded activities: receipt of royalties or licence fees
1983. 19Paragraph 19
1984. Excluded activities: property development
1985. 20Paragraph 20
1986. Excluded activities: shipbuilding
1987. 20AParagraph 20A
1988. Excluded activities: producing coal
1989. 20BParagraph 20B
1990. Excluded activities: producing steel
1991. 20CParagraph 20C
1992. Excluded activities: hotels and comparable establishments
1993. 21Paragraph 21
1994. Excluded activities: nursing homes and residential care homes
1995. 22Paragraph 22
1996. Excluded activities: provision of facilities for another business
1997. 23Paragraph 23
1998. Part 4: Eligible employees
1999. Eligible employees: introduction
2000. 24Paragraph 24
2001. The employment requirement
2002. 25Paragraph 25
2003. The requirement as to commitment of working time
2004. 26Paragraph 26
2005. Meaning of “working time”
2006. 27Paragraph 27
2007. The “no material interest” requirement
2008. 28Paragraph 28
2009. Meaning of “material interest”
2010. 29Paragraph 29
2011. Material interest: options and interests in SIPs
2012. 30Paragraph 30
2013. Meaning of “associate”
2014. 31Paragraph 31
2015. Meaning of “associate”: trustees of employee benefit trust
2016. 32Paragraph 32
2017. Meaning of “associate”: trustees of discretionary trust
2018. 33Paragraph 33
2019. Part 5: Requirements relating to options
2020. Requirements relating to options: introduction
2021. 34Paragraph 34
2022. Type of shares that may be acquired
2023. 35Paragraph 35
2024. Option to be capable of exercise the specified period
2025. 36Paragraph 36
2026. Terms of option to be agreed in writing
2027. 37Paragraph 37
2028. Non-assignability of rights
2029. 38Paragraph 38
2030. Part 6: Company reorganisations
2031. Company reorganisations: introduction
2032. 39Paragraph 39
2033. Meaning of “qualifying exchange of shares”
2034. 40Paragraph 40
2035. Grant of replacement option
2036. 41Paragraph 41
2037. Period within which replacement option must be granted
2038. 42Paragraph 42
2039. Further requirements to be met as to replacement option
2040. 43Paragraph 43
2041. Part 7: Notification of option to inland revenue
2042. Notice of option to be given to Inland Revenue
2043. 44Paragraph 44
2044. Correction of notice by Inland Revenue
2045. 45Paragraph 45
2046. Notice of enquiry
2047. 46Paragraph 46
2048. Completion of enquiry: closure notices
2049. 47Paragraph 47
2050. Completion of enquiry: application for closure notice to be given
2051. 48Paragraph 48
2052. Effect of enquiry
2053. 49Paragraph 49
2054. Appeals
2055. 50Paragraph 50
2056. Part 8: Supplementary provisions
2057. Power to require information
2058. 51Paragraph 51
2059. Annual returns
2060. 52Paragraph 52
2061. 52AParagraph 52A
2062. Compliance with time limits
2063. 53Paragraph 53
2064. Power to amend by Treasury order
2065. 54Paragraph 54
2066. Meaning of “market value” of shares
2067. 55Paragraph 55
2068. Determination of market value of shares
2069. 56Paragraph 56
2070. Appeal against determination of market value of shares
2071. 57Paragraph 57
2072. Penalties
2073. 57AParagraph 57A Repealed
2074. 57BParagraph 57B
2075. 57CParagraph 57C
2076. 57DParagraph 57D
2077. 57EParagraph 57E
2078. 57FMeaning of “specified Northern Ireland company”
2079. Minor definitions
2080. 58Paragraph 58
2081. Index of defined expressions
2082. 59Paragraph 59
2083. Schedule 6: Consequential Amendments
2084. Part 1: Income and Corporation Taxes Act 1988
2085. 1Paragraph 1
2086. 2Paragraph 2 Repealed
2087. 3Paragraph 3
2088. 4Paragraph 4 Repealed
2089. 5Paragraph 5 Repealed
2090. 6Paragraph 6
2091. 7Paragraph 7
2092. 8Paragraph 8
2093. 9Paragraph 9 Repealed
2094. 10Paragraph 10 Repealed
2095. 11Paragraph 11 Repealed
2096. 12Paragraph 12 Repealed
2097. 13Paragraph 13 Repealed
2098. 14Paragraph 14
2099. 15Paragraph 15
2100. 16Paragraph 16
2101. 17Paragraph 17
2102. 18Paragraph 18
2103. 19Paragraph 19
2104. 20Paragraph 20
2105. 21Paragraph 21
2106. 22Paragraph 22
2107. 23Paragraph 23 Repealed
2108. 24Paragraph 24
2109. 25Paragraph 25
2110. 26Paragraph 26
2111. 27Paragraph 27
2112. 28Paragraph 28
2113. 29Paragraph 29
2114. 30Paragraph 30
2115. 31Paragraph 31
2116. 32Paragraph 32
2117. 33Paragraph 33
2118. 34Paragraph 34 Repealed
2119. 35Paragraph 35 Repealed
2120. 36Paragraph 36
2121. 37Paragraph 37 Repealed
2122. 38Paragraph 38 Repealed
2123. 39Paragraph 39
2124. 40Paragraph 40 Repealed
2125. 41Paragraph 41
2126. 42Paragraph 42
2127. 43Paragraph 43
2128. 44Paragraph 44 Repealed
2129. 45Paragraph 45 Repealed
2130. 46Paragraph 46
2131. 47Paragraph 47
2132. 48Paragraph 48 Repealed
2133. 49Paragraph 49 Repealed
2134. 50Paragraph 50 Repealed
2135. 51Paragraph 51 Repealed
2136. 52Paragraph 52
2137. 53Paragraph 53 Repealed
2138. 54Paragraph 54 Repealed
2139. 55Paragraph 55 Repealed
2140. 56Paragraph 56 Repealed
2141. 57Paragraph 57 Repealed
2142. 58Paragraph 58 Repealed
2143. 59Paragraph 59 Repealed
2144. 60Paragraph 60 Repealed
2145. 61Paragraph 61 Repealed
2146. 62Paragraph 62 Repealed
2147. 63Paragraph 63 Repealed
2148. 64Paragraph 64 Repealed
2149. 65Paragraph 65 Repealed
2150. 66Paragraph 66 Repealed
2151. 67Paragraph 67 Repealed
2152. 68Paragraph 68
2153. 69Paragraph 69 Repealed
2154. 70Paragraph 70 Repealed
2155. 71Paragraph 71
2156. 72Paragraph 72 Repealed
2157. 73Paragraph 73 Repealed
2158. 74Paragraph 74
2159. 75Paragraph 75
2160. 76Paragraph 76
2161. 77Paragraph 77
2162. 78Paragraph 78
2163. 79Paragraph 79 Repealed
2164. 80Paragraph 80
2165. 81Paragraph 81
2166. 82Paragraph 82 Repealed
2167. 83Paragraph 83
2168. 84Paragraph 84
2169. 85Paragraph 85
2170. 86Paragraph 86
2171. 87Paragraph 87 Repealed
2172. 88Paragraph 88
2173. 89Paragraph 89 Repealed
2174. 90Paragraph 90 Repealed
2175. 91Paragraph 91
2176. 92Paragraph 92 Repealed
2177. 93Paragraph 93 Repealed
2178. 94Paragraph 94 Repealed
2179. 95Paragraph 95 Repealed
2180. 96Paragraph 96
2181. 97Paragraph 97 Repealed
2182. 98Paragraph 98 Repealed
2183. 99Paragraph 99 Repealed
2184. 100Paragraph 100 Repealed
2185. 101Paragraph 101 Repealed
2186. 102Paragraph 102 Repealed
2187. 103Paragraph 103 Repealed
2188. 104Paragraph 104
2189. 105Paragraph 105 Repealed
2190. 106Paragraph 106
2191. 107Paragraph 107
2192. 108Paragraph 108 Repealed
2193. 109Paragraph 109 Repealed
2194. 110Paragraph 110
2195. 111Paragraph 111
2196. 112Paragraph 112
2197. 113Paragraph 113
2198. 114Paragraph 114
2199. 115Paragraph 115
2200. 116Paragraph 116
2201. 117Paragraph 117
2202. 118Paragraph 118
2203. 119Paragraph 119
2204. 120Paragraph 120 Repealed
2205. 121Paragraph 121 Repealed
2206. Part 2: Other enactments
2207. Finance Act 1969 (c. 32)
2208. 122Paragraph 122
2209. Taxes Management Act 1970 (c. 9)
2210. 123Paragraph 123
2211. 124Paragraph 124
2212. 125Paragraph 125
2213. 126Paragraph 126
2214. 127Paragraph 127
2215. 128Paragraph 128
2216. 129Paragraph 129 Repealed
2217. 130Paragraph 130
2218. 131Paragraph 131
2219. 132Paragraph 132
2220. 133Paragraph 133
2221. 134Paragraph 134
2222. 135Paragraph 135
2223. 136Paragraph 136
2224. 137Paragraph 137
2225. 138Paragraph 138
2226. 139Paragraph 139
2227. 140Paragraph 140
2228. 141Paragraph 141
2229. 142Paragraph 142 Repealed
2230. 143Paragraph 143
2231. Finance Act 1973 (c. 51)
2232. 144Paragraph 144 Repealed
2233. 145Paragraph 145 Repealed
2234. 146Paragraph 146 Repealed
2235. Finance Act 1974 (c. 30)
2236. 147Paragraph 147 Repealed
2237. Interpretation Act 1978 (c. 30)
2238. 148Paragraph 148
2239. Education (Scotland) Act 1980 (c. 44)
2240. 149Paragraph 149
2241. Inheritance Tax Act 1984 (c. 51)
2242. 150Paragraph 150
2243. 151Paragraph 151
2244. 152Paragraph 152
2245. Bankruptcy (Scotland) Act 1985 (c. 66)
2246. 153Paragraph 153 Repealed
2247. Insolvency Act 1986 (c. 45)
2248. 154Paragraph 154
2249. Finance Act 1988 (c. 39)
2250. 155Paragraph 155
2251. Finance Act 1989 (c. 26)
2252. 156Paragraph 156
2253. 157Paragraph 157
2254. 158Paragraph 158
2255. 159Paragraph 159
2256. 160Paragraph 160
2257. 161Paragraph 161 Repealed
2258. 162Paragraph 162
2259. 163Paragraph 163
2260. Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19))
2261. 164Paragraph 164
2262. Finance Act 1990 (c. 29)
2263. 165Paragraph 165
2264. 166Paragraph 166 Repealed
2265. 167Paragraph 167
2266. Finance Act 1991 (c. 31)
2267. 168Paragraph 168
2268. Social Security Contributions and Benefits Act 1992 (c. 4)
2269. 169Paragraph 169
2270. 170Paragraph 170
2271. 171Paragraph 171
2272. 172Paragraph 172
2273. 173Paragraph 173
2274. 174Paragraph 174
2275. 175Paragraph 175
2276. 176Paragraph 176
2277. 177Paragraph 177
2278. 178Paragraph 178
2279. 179Paragraph 179
2280. 180Paragraph 180
2281. 181Paragraph 181
2282. 182Paragraph 182
2283. 183Paragraph 183
2284. 184Paragraph 184
2285. 185Paragraph 185
2286. Social Security Administration Act 1992 (c. 5)
2287. 186Paragraph 186
2288. 187Paragraph 187
2289. 188Paragraph 188
2290. 189Paragraph 189
2291. Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7)
2292. 190Paragraph 190
2293. 191Paragraph 191
2294. 192Paragraph 192
2295. 193Paragraph 193
2296. 194Paragraph 194
2297. 195Paragraph 195
2298. 196Paragraph 196
2299. 197Paragraph 197
2300. 198Paragraph 198
2301. 199Paragraph 199
2302. 200Paragraph 200
2303. 201Paragraph 201
2304. 202Paragraph 202
2305. 203Paragraph 203
2306. 204Paragraph 204
2307. Social Security Administration (Northern Ireland) Act 1992 (c. 8)
2308. 205Paragraph 205
2309. 206Paragraph 206
2310. Taxation of Chargeable Gains Act 1992 (c. 12)
2311. 207Paragraph 207
2312. 208Paragraph 208 Repealed
2313. 209Paragraph 209
2314. 210Paragraph 210
2315. 211Paragraph 211
2316. 212Paragraph 212
2317. 213Paragraph 213
2318. 214Paragraph 214
2319. 215Paragraph 215
2320. 216Paragraph 216
2321. 217Paragraph 217
2322. 218Paragraph 218
2323. 219Paragraph 219
2324. 220Paragraph 220
2325. 221Paragraph 221
2326. Pension Schemes Act 1993 (c. 48)
2327. 222Paragraph 222
2328. Pension Schemes (Northern Ireland) Act 1993 (c. 49)
2329. 223Paragraph 223
2330. Finance Act 1994 (c. 9)
2331. 224Paragraph 224
2332. Finance Act 1995 (c. 4)
2333. 225Paragraph 225
2334. 226Paragraph 226 Repealed
2335. 227Paragraph 227
2336. Jobseekers Act 1995 (c. 18)
2337. 228Paragraph 228
2338. 229Paragraph 229
2339. 230Paragraph 230
2340. Child Support Act 1995 (c. 34)
2341. 231Paragraph 231
2342. Child Support (Northern Ireland) Order 1995 (S.I. 1995/2702 (N.I. 13))
2343. 232Paragraph 232
2344. Jobseekers (Northern Ireland) Order 1995 (S.I. 1995/2705 (N.I. 15))
2345. 233Paragraph 233
2346. 234Paragraph 234
2347. 235Paragraph 235
2348. Teaching and Higher Education Act 1998 (c. 30)
2349. 236Paragraph 236
2350. Scotland Act 1998 (c. 46)
2351. 237Paragraph 237
2352. Education (Student Support) (Northern Ireland) Order 1998 (S.I. 1998/1760 (N.I. 14))
2353. 238Paragraph 238
2354. Tax Credits Act 1999 (c. 10)
2355. 239Paragraph 239
2356. 240Paragraph 240
2357. 241Paragraph 241
2358. Finance Act 2000 (c. 17)
2359. 242Paragraph 242
2360. 243Paragraph 243 Repealed
2361. 244Paragraph 244 Repealed
2362. 245Paragraph 245 Repealed
2363. Capital Allowances Act 2001 (c. 2)
2364. 246Paragraph 246
2365. 247Paragraph 247
2366. 248Paragraph 248
2367. 249Paragraph 249
2368. 250Paragraph 250
2369. 251Paragraph 251
2370. 252Paragraph 252
2371. 253Paragraph 253
2372. 254Paragraph 254
2373. 255Paragraph 255
2374. 256Paragraph 256 Repealed
2375. Finance Act 2001 (c. 9)
2376. 257Paragraph 257
2377. 258Paragraph 258 Repealed
2378. Social Security Contributions (Share Options) Act 2001 (c. 20)
2379. 259Paragraph 259
2380. 260Paragraph 260
2381. 261Paragraph 261
2382. 262Paragraph 262
2383. State Pension Credit Act 2002 (c. 16)
2384. 263Paragraph 263
2385. Tax Credits Act 2002 (c. 21)
2386. 264Paragraph 264
2387. 265Paragraph 265
2388. 266Paragraph 266
2389. State Pension Credit Act (Northern Ireland) 2002 (c. 14 (N.I.))
2390. 267Paragraph 267
2391. Certain corresponding Northern Ireland provision
2392. 268Paragraph 268
2393. 269Paragraph 269
2394. Schedule 7: Transitionals and savings
2395. Part 1: Continuity of the law
2396. 1Paragraph 1
2397. 2Paragraph 2
2398. 3Paragraph 3
2399. 4Paragraph 4
2400. 5Paragraph 5
2401. 6Paragraph 6
2402. 7Paragraph 7
2403. Part 2: Employment income: charge to tax
2404. Taxable earnings
2405. 8Paragraph 8
2406. Relief for delayed remittances
2407. 9Paragraph 9 Repealed
2408. 10Paragraph 10 Repealed
2409. 11Paragraph 11 Repealed
2410. Disputes as to domicile or ordinary residence
2411. 12Paragraph 12 Repealed
2412. Application of provisions to agency workers
2413. 13Paragraph 13
2414. 14Paragraph 14
2415. Part 3: Employment income: earnings and benefits etc. treated as earning
2416. ...
2417. 15Paragraph 15 Repealed
2418. 16Paragraph 16 Repealed
2419. Taxable benefits: the benefits code
2420. 17Paragraph 17
2421. ...
2422. 18Paragraph 18 Repealed
2423. 19Paragraph 19 Repealed
2424. 20Paragraph 20 Repealed
2425. Taxable benefits: living accommodation
2426. 21Paragraph 21
2427. Taxable benefits: cars, vans and related benefits
2428. 22Paragraph 22
2429. 23Paragraph 23
2430. 24Paragraph 24 Repealed
2431. Taxable benefits: loans
2432. 25Paragraph 25
2433. 26Paragraph 26
2434. 27Paragraph 27
2435. Taxable benefits: notional loans in respect of acquisitions of shares
2436. 28Paragraph 28
2437. 29Paragraph 29
2438. Taxable benefits: disposals of shares for more than market value
2439. 30Paragraph 30 Repealed
2440. 31Paragraph 31 Repealed
2441. Taxable benefits: residual liability to charge
2442. 32Paragraph 32
2443. Part 4: Employment income: exemptions
2444. Incidental overnight expenses and benefits
2445. 33Paragraph 33
2446. 34Paragraph 34
2447. Removal benefits and expenses
2448. 35Paragraph 35
2449. 36Paragraph 36
2450. Retraining courses
2451. 37Paragraph 37
2452. Suggestion awards
2453. 38Paragraph 38
2454. Part 5: Employment income: deductions
2455. Earnings charged on remittance
2456. 39Paragraph 39
2457. Non-domiciled employee’s travel costs and expenses: “qualifying arrival date”
2458. 40Paragraph 40
2459. Part 6: Employment income: income which is not earnings or related to securities
2460. Benefits from non-approved pension schemes
2461. 41Paragraph 41 Repealed
2462. Payments and benefits on termination of employment etc.
2463. 42Paragraph 42
2464. 43Paragraph 43
2465. Part 7: Employment income: income related to securities
2466. Pre-6th April 2003 acquisitions
2467. 43AParagraph 43A
2468. Conditional interests in shares
2469. 44Paragraph 44
2470. 45Paragraph 45
2471. 46Paragraph 46
2472. 47Paragraph 47 Repealed
2473. 48Paragraph 48 Repealed
2474. Convertible shares
2475. 49Paragraph 49
2476. 50Paragraph 50 Repealed
2477. 51Paragraph 51 Repealed
2478. 52Paragraph 52 Repealed
2479. 53Paragraph 53 Repealed
2480. Post-acquisition benefits from shares
2481. 54Paragraph 54
2482. 55Paragraph 55
2483. 56Paragraph 56
2484. 57Paragraph 57 Repealed
2485. 58Paragraph 58
2486. 59Paragraph 59 Repealed
2487. 60Paragraph 60 Repealed
2488. 61Paragraph 61 Repealed
2489. Securities disposed of for more than market value
2490. 61AParagraph 61A
2491. Share options
2492. 62Paragraph 62 Repealed
2493. 63Paragraph 63
2494. 64Paragraph 64
2495. 65Paragraph 65
2496. 66Paragraph 66 Repealed
2497. 67Paragraph 67 Repealed
2498. Approved share incentive plans
2499. 68Paragraph 68
2500. 69Paragraph 69
2501. 70Paragraph 70
2502. Approved SAYE option schemes
2503. 71Paragraph 71
2504. 72Paragraph 72
2505. Approved CSOP schemes
2506. 73Paragraph 73
2507. 74Paragraph 74
2508. 75Paragraph 75
2509. 76Paragraph 76
2510. Enterprise management incentives
2511. 77Paragraph 77
2512. 78Paragraph 78
2513. 79Paragraph 79
2514. 80Paragraph 80
2515. 81Paragraph 81
2516. 82Paragraph 82
2517. 83Paragraph 83
2518. Employee benefit trusts
2519. 84Paragraph 84
2520. Part 8: Approved profit sharing schemes
2521. Trustees' duty to provide information
2522. 85Paragraph 85
2523. Share incentive plans
2524. 86Paragraph 86
2525. Other share schemes: eligibility of individuals and material interests
2526. 87Paragraph 87
2527. Part 9: Social security income
2528. Disabled person’s and working families' tax credits
2529. 88Paragraph 88
2530. Part 10: PAYE
2531. PAYE regulations
2532. 89Paragraph 89
2533. Part 11: Consequences for corporation tax
2534. 90Paragraph 90
2535. 91Paragraph 91
2536. 92Paragraph 92
2537. Schedule 8: Repeals and revocations
2538. 1Acts of Parliament
2539. 2Subordinate legislation