# Income Tax (Earnings and Pensions) Act 2003, Section 492: No charge on partnership share money deducted from salary

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

(1) An employee is not liable to income tax under Part 2 on any amount of the employee’s salary which is deducted as partnership share money under a partnership share agreement.
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

---
Source: https://www.legislation.gov.uk/ukpga/2003/1/section/492 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-492
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.