Section 4 Payments treated as remuneration and earnings.

any sum paid to or for the benefit of a person in satisfaction (whether in whole or in part) of any entitlement of that person to—

any sickness payment made—

the amount of any gain calculated under section 479 F12of ITEPA 2003 in respect of which an amount counts as employment income of the earner under section 476 of that Act (charge on acquisition of securities pursuant to option etc), reduced by any amounts deducted under section 480(1) to (6) of that Act in arriving at the amount counting as such employment income;

any sum paid (or treated as paid) to or for the benefit of the earner which is chargeable to tax by virtue of F13section 225 or 226 of ITEPA 2003 (taxation of consideration for certain restrictive undertakings).

for treating any amount on which an employed earner is chargeable to income tax under F15the employment income Parts of ITEPA 2003 as remuneration derived from the earner’s employment; and

for treating any amount which in accordance with regulations under paragraph (a) above constitutes remuneration as an amount of remuneration paid, at such time as may be determined in accordance with the regulations, to or for the benefit of the earner in respect of his employment.

a benefit of a kind mentioned in section 308 or 308A of ITEPA 2003 (contributions to pensions schemes) is provided to or for the benefit of an employed earner pursuant to optional remuneration arrangements, and

the employed earner would be chargeable to income tax in respect of the benefit if section 228A(5) of that Act had effect with the omission of paragraphs (f) and (g) (which refer to sections 308 and 308A),

the regulations may make other provision about that limit, including provision prescribing an equivalent of that limit for earners paid weekly or at other intervals; and

if an equivalent is prescribed, the regulations may prescribe an amount which exceeds by not more than £1 the amount which is the arithmetical equivalent of that limit.

may make provision for any amount treated as remuneration to be treated as an amount of remuneration paid, at such time as may be determined in accordance with the regulations, to or for the benefit of the earner in respect of the earner’s employment;

may provide, in prescribed cases, for the amount treated as remuneration to be an amount other than the amount foregone in relation to the benefit; and

may provide for that other amount to be calculated in such manner and on such basis as may be prescribed.