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Income Tax (Earnings and Pensions) Act 2003
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226Valuable consideration given for restrictive undertakings
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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