http://www.legislation.gov.uk/ukpga/2003/1/section/226/2018-01-17
Income Tax (Earnings and Pensions) Act 2003
An Act to restate, with minor changes, certain enactments relating to income tax on employment income, pension income and social security income; and for connected purposes.
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Statute Law Database
2024-10-29
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2018-01-17
Income Tax (Earnings and Pensions) Act 2003
s. 452(2)(aa)
Finance Act 2013
Sch. 23
para. 11
Sch. 23
para. 38
art. 2
Income Tax (Earnings and Pensions) Act 2003
s. 707A
Finance Act 2024
s. 36(4)
s. 36(5)
Income Tax (Earnings and Pensions) Act 2003
s. 637T
The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024
reg. 3(7)
reg. 1(2)
(3)
Income Tax (Earnings and Pensions) Act 2003
s. 683(3D)
The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024
reg. 4(4)
reg. 1(2)
(3)
Part 3Employment income: earnings and benefits etc. treated as earnings
Chapter 12F1Other amounts treated as earnings
Annotations:
Amendments (Textual)
F2Payments
Annotations:
Amendments (Textual)
F2
S. 221 cross-heading inserted (1.9.2013) by Finance Act 2013 (c. 29), Sch. 23 paras. 4(b), 38; S.I. 2013/1755, art. 2
226Valuable consideration given for restrictive undertakings
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.
Words in Pt. 3 Ch. 12 heading substituted (1.9.2013) by Finance Act 2013 (c. 29), Sch. 23 paras. 4(a), 38; S.I. 2013/1755, art. 2