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Changes over time for: Cross Heading: Limit on exemption


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 17/07/2013.
Changes to legislation:
Income Tax (Earnings and Pensions) Act 2003, Cross Heading: Limit on exemption is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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Limit on exemptionU.K.
287Limit on exemptionU.K.
(1)If in the case of any change of residence the value of the exemption exceeds £8,000, section 271 (exemption of removal benefits and expenses) does not apply to the excess.
(2)The value of the exemption is an amount equal to the sum of—
(a)the section 62 earnings, ...
(b)the benefits code earnings (after taking account of section 64(2)(b) where otherwise an amount that falls within paragraph (a) would be included)[, and
(c)the Part 7A employment income]
(3)In this section “the section 62 earnings” means all earnings within section 62 (earnings) in respect of which section 271 would prevent liability to income tax from arising if this section were disregarded.
(4)In this section “the benefits code earnings” means all earnings—
(a)which are treated as such under the benefits code (except earnings so treated under Chapter 7 of Part 3 (taxable benefits: loans)), and
(b)in respect of which section 271 would prevent liability to income tax from arising if this section were disregarded.
(5)In the case of living accommodation, the amount that would be so treated is to be taken to be equal to—
where—
CE is the cash equivalent of the accommodation under Chapter 5 of Part 3 (taxable benefits: living accommodation) for the period in which the accommodation is provided (calculated as mentioned in section 103), and
D is any amount deductible under section 364 (deductions where living accommodation provided).
[(6)In this section “the Part 7A employment income” means the amount in respect of which section 271 (when read with section 554P) would prevent liability to income tax arising if this section were to be disregarded.]
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