SCHEDULES
SCHEDULE 7Transitionals and savings
Part 6Employment income: income which is not earnings or share-related
Payments and benefits on termination of employment etc.
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1
This paragraph applies for the purpose of determining how the £30,000 threshold referred to in sections 403 and 404 operates where—
a
payments or other benefits to which Chapter 3 of Part 6 apply are received, and
b
payments or benefits to which section 148 of ICTA applied were received in respect of the same person—
i
in respect of the same employment, or
ii
in respect of different employments with the same employer or associated employers.
2
For the purposes of section 403(4) and (5), section 415 (valuation of benefits) does not apply to the payments and benefits referred to in sub-paragraph (1)(b), and their aggregate amount is to be taken to be their aggregate amount immediately before 6th April 2003.
3
The references in sections 403(4) and (5) and 404(3)(b) to payments or benefits to which Chapter 3 of Part 6 applies include references to the payments and benefits referred to in sub-paragraph (1)(b).
4
Section 404(2) (when employers are associated) applies for the purposes of this paragraph.