Section 10 Meaning of “taxable earnings” and “taxable specific income”
United Kingdom
This section explains what is meant by “taxable earnings” and “taxable specific income” in the employment income Parts.
“Taxable earnings from an employment in a tax year are to be determined in accordance with F1Chapters 4 and 5 of this Part.
“Taxable specific income from an employment for a tax year means the full amount of any specific employment income which, by virtue of Part 6 F2, 7 or 7A or any other enactment, counts as employment income for that year in respect of the employment.
Subsection (3) is subject to F4Chapter 5B (taxable specific income from employment-related securities etc: internationally mobile employees).
Subsection (3) is also subject to sections 554Z9 to 554Z11 (employment income under Part 7A: remittance basis).
Annotations
Textual amendments
- F1
Words in s. 10(2) substituted (with effect in accordance with Sch. 7 para. 81 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 4(2)
- F2
Words in s. 10(3) substituted (with effect in accordance with Sch. 2 paras. 52-59 of the amending Act) by Finance Act 2011 (c. 11), Sch. 2 para. 6(2)
- F3
S. 10(4) inserted (with effect in accordance with Sch. 7 para. 80 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 4(3)
- F4
Words in s. 10(4) substituted (with effect in accordance with Sch. 9 para. 48 of the amending Act) by Finance Act 2014 (c. 26), Sch. 9 para. 4, 47
- F5
S. 10(5) inserted (with effect in accordance with Sch. 2 paras. 52-59 of the amending Act) by Finance Act 2011 (c. 11), Sch. 2 para. 6(3)
Notes on Part 2
Modifications
- C1
Pt. 2 applied (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), ss. 969(4)(a), 1329(1) (with Sch. 2 Pts. 1, 2)
- C2
Pt. 2 applied (E.W.S.) (31.3.2017) by The Equality Act 2010 (Specific Duties and Public Authorities) Regulations 2017 (S.I. 2017/353), reg. 1(1), Sch. 1 para. 4(3) (with reg. 2(4)(5))