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Income Tax (Earnings and Pensions) Act 2003
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Income Tax (Earnings and Pensions) Act 2003, Paragraph 54 is up to date with all changes known to be in force on or before 26 February 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.
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54(1)The Treasury may by order amend the EMI code—U.K.
(a)to make such amendments of paragraphs 13 to 23 (the trading activities requirement and related provisions) as they consider expedient;
(b)to substitute different sums of money for those for the time being specified in—
(i)paragraphs 5(1) and 6(1) and (3) (maximum entitlement of employee);
(ii)paragraph 12(1) and (2) (the gross assets requirement).
(2)An order under sub-paragraph (1)(b) which amends paragraphs 5(1) and 6(1) and (3) may amend section 536(1)(e) (other disqualifying events) so as to substitute the same sum for the one that is for the time being specified there.
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