Search Legislation

Income Tax (Earnings and Pensions) Act 2003

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As enacted)
 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 203A

 Help about opening options

Alternative versions:

Changes to legislation:

Income Tax (Earnings and Pensions) Act 2003, Section 203A is up to date with all changes known to be in force on or before 27 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. Help about Changes to Legislation

[F1203AEmployment-related benefit provided under optional remuneration arrangementsU.K.
This section has no associated Explanatory Notes

(1)Where an employment-related benefit is provided pursuant to optional remuneration arrangements—

(a)the relevant amount is to be treated as earnings from the employment for the tax year in which the benefit is provided, and

(b)section 203(1) does not apply.

(2)To find the relevant amount, first determine which (if any) is the greater of—

(a)the cost of the employment-related benefit, and

(b)the amount foregone with respect to the benefit (see section 69B).

(3)If the cost of the employment-related benefit is greater than or equal to the amount foregone, the “relevant amount” is the cash equivalent (see section 203(2)).

(4)Otherwise, the “relevant amount” is—

(a)the amount foregone with respect to the employment-related benefit, less

(b)any part of the cost of the benefit made good by the employee, to the persons providing the benefit, on or before 6 July following the tax year in which it is provided.

(5)For the purposes of subsections (2) and (3), assume that the cost of the employment-related benefit is zero if the condition in subsection (6) is met.

(6)The condition is that the employment-related benefit would be exempt from income tax but for section 228A (exclusion of certain exemptions).

(7)Where it is necessary for the purposes of subsections (2)(b) and (4) to apportion an amount of earnings to the benefit provided in the tax year, the apportionment is to be made on a just and reasonable basis.

In this subsection “earnings” is to be interpreted in accordance with section 69B(5).]

Textual Amendments

F1S. 203A inserted (with effect in accordance with Sch. 2 para. 62 of the amending Act) by Finance Act 2017 (c. 10), Sch. 2 para. 48

Back to top

Options/Help

You have chosen to open The Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act without Schedules as a PDF

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?