Point in time view as at 30/04/2001. This version of this provision has been superseded.
There are currently no known outstanding effects for the Companies Act 1985, Section 311.
(1)It is not lawful for a company to pay a director remuneration (whether as director or otherwise) free of income tax, or otherwise calculated by reference to or varying with the amount of his income tax, or to or with any rate of income tax.
(2)Any provision contained in a company’s articles, or in any contract, or in any resolution of a company or a company’s directors, for payment to a director of remuneration as above mentioned has effect as if it provided for payment, as a gross sum subject to income tax, of the net sum for which it actually provides.
Modifications etc. (not altering text)
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