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Changes over time for: Section 226


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Point in time view as at 17/12/2014.
Changes to legislation:
Income Tax (Earnings and Pensions) Act 2003, Section 226 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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226Valuable consideration given for restrictive undertakingsU.K.
This section has no associated Explanatory Notes
(1)In a case where—
(a)an individual gives a restrictive undertaking in connection with the individual’s current, future or past employment, and
(b)valuable consideration that is not in the form of money is provided in respect of—
(i)the giving of the undertaking, or
(ii)the total or partial fulfilment of the undertaking,
section 225 applies as it would if a payment of an amount equal to the value of the consideration had been made instead.
(2)For this purpose—
(a)merely assuming an obligation to make over or provide valuable property, rights or advantages is not valuable consideration, but
(b)wholly or partially discharging such an obligation is.
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