Paragraph 11 Definitions applicable to the single total figure tableF1

(1)

In paragraph 7(1)(b) “taxable benefits” includes—

(a)

sums paid by way of expenses allowance that are—

(i)

chargeable to United Kingdom income tax (or would be if the person were an individual, or would be if the person were resident in the United Kingdom for tax purposes), and

(ii)

paid to or receivable by the person in respect of qualifying services; and

(b)

any benefits received by the person, other than salary, (whether or not in cash) that—

(i)

are emoluments of the person, and

(ii)

are received by the person in respect of qualifying services.

(2)

A payment or other benefit received in advance of a director commencing qualifying services, but in anticipation of performing qualifying services, is to be treated as if received on the first day of performance of the qualifying services.

Annotations

Textual amendments

F1: Sch. 8 substituted (1.10.2013) by The Large and Medium-sized Companies and Groups (Accounts and Reports) (Amendment) Regulations 2013 (S.I. 2013/1981), regs. 1, 3, Sch. (with reg. 4)

Notes on Schedule 8

Textual amendments

F2: Words in Sch. 8 heading omitted (11.5.2025 in relation to accounts and reports for a financial year of a company beginning on or after that date) by virtue of The Companies (Directors' Remuneration and Audit) (Amendment) Regulations 2025 (S.I. 2025/439), regs. 1(2), 2(3), 12(3)(a)