
Print Options
PrintThe Whole
Instrument
PrintThis
Section
only
Status:
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
Amendment of the principal Regulations
5.—(1) Amend regulation 22 (payment to be treated as earnings)() as follows.
(2) In the heading for “Payment” substitute “Amounts”.
(3) In paragraph (1) for “(2) to (5)” substitute “(2) to (8)”.
(4) For paragraphs (3) to (5) substitute—
“(3) The amount specified in this paragraph is the amount equal to the cash equivalent in respect of car fuel which is treated as earnings from the employment of the earner for income tax purposes by virtue of section 149 of ITEPA 2003.
(4) The amount specified in this paragraph is the amount which is treated as earnings from the employment of the employed earner by virtue of section 222(2) of ITEPA 2003().
(5) The amount specified in this paragraph is the amount which counts as employment income of the employed earner under Chapter 2 of Part 7 of ITEPA 2003 computed in accordance with section 428 of ITEPA 2003() in respect of conditional shares or interests in conditional shares acquired before 16th April 2003.
(6) The amount specified in this paragraph is the amount which counts as employment income of the employed earner by virtue of Chapter 4 of Part 7 of ITEPA 2003 (shares: post-acquisition charges) in respect of shares or interests in shares acquired before 16th April 2003.
(7) The amounts specified in this paragraph are those—
(a)which count as employment income of the employed earner in relation to employment-related securities (within the meaning given by section 421B(8) of ITEPA 2003()); and
(b)to which section 698 of ITEPA 2003 (PAYE: special charges on employment-related securities) () applies.
(8) The amount specified in this paragraph is the amount—
(a)which counts as employment income of the employed earner by virtue of sections 500 to 508 of ITEPA 2003; and
(b)in respect of which income tax is recoverable in accordance with PAYE regulations.”.
Back to top