{
  "url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-504",
  "json_url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-504.json",
  "legislation": "ukpga/2003/1",
  "legislation_title": "Income Tax (Earnings and Pensions) Act 2003",
  "legislation_url": "https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003",
  "path": "section/504",
  "kind": "section",
  "number": "504",
  "heading": "Charge on cancellation payments in respect of partnership share agreement",
  "text": "(1) This section applies if an individual who has entered into a partnership share agreement receives any money or money’s worth in respect of the cancellation of the agreement.\n(2) The amount of the money or the value of the money’s worth counts as employment income of the individual for the relevant tax year.\n(3) The “relevant tax year” is the tax year in which the individual receives the money or money’s worth.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2003/1/section/504",
    "retrieved_at": "2026-10-29T09:18:42.395488+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}