Income and Corporation Taxes Act 1988 (c. 1)

PART V U.K. PROVISIONS RELATING TO THE SCHEDULE E CHARGE

CHAPTER II U.K. [F1 EMPLOYEES EARNING £8,500 OR MORE AND DIRECTORS]

Textual Amendments

F1 Pt. 5 Ch. 2 heading substituted by Finance Act 1989 (c. 26), s. 53(2)(a)

Expenses U.K.

153 Payments in respect of expenses. U.K.

M1 (1) Subject to the provisions of this Chapter, where in any year a person is employed in [F2 employment to which this Chapter applies] and by reason of his employment there are paid to him in respect of expenses any sums which, apart from this section, are not chargeable to tax as his income, those sums are to be treated as emoluments of the employment and accordingly chargeable to income tax under Schedule E.

(2) Subsection (1) above is without prejudice to any claim for deductions under section 198, 201 [F3 201AA] or 332(3).

(3) The reference in subsection (1) above to sums paid in respect of expenses includes any sums put at the employee’s disposal by reason of his employment and paid away by him.

Textual Amendments

F2 1989 s.53(2)(b).Previously

“director's or higher-paid employment”.

F3 Words in s. 153(2) inserted (with effect in accordance with s. 91(3) of the amending Act) by Finance Act 1995 (c. 4), s. 91(2)

Marginal Citations

M1 Source—1976 s.60