7(1)This pargraph specifies how the £30,000 threshold in section 148(1) applies.
(2)Tax is charged only on the excess over £30,000, but the threshold applies to the aggregate amount of payments and other benefits provided in respect of the same person—
(a)in respect of the same employment, or
(b)in respect of different employments with the same employer or associated employers (see paragraph 8).
(3)If payments and other benefits are received in different tax years, the £30,000 is set against the amount of payments and other benefits received in earlier years before those of later years.
(4)If more than one payment or other benefit is received in a tax year in which the threshold is exceeded—
(a)the £30,000 (or the balance of it) is set against the amounts of cash benefits as they are received, and
(b)any balance at the end of the year is set against the aggregate amount of non-cash benefits received in the year.