Search Legislation

Income Tax (Earnings and Pensions) Act 2003

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 270B

 Help about opening options

Alternative versions:

Status:

Point in time view as at 17/12/2014.

Changes to legislation:

Income Tax (Earnings and Pensions) Act 2003, Section 270B 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. Help about Changes to Legislation

[F1270BMeaning of “relevant earnings amount” and “required time”U.K.
This section has no associated Explanatory Notes

(1)For the purposes of section 270A, the “relevant earnings amount”, in the case of an employee provided with vouchers by an employer for any qualifying week in a tax year, means—

(a)the aggregate of—

(i)the amount of any relevant earnings for the tax year from employment by the employer, and

(ii)any amounts treated under Chapters 2 to 12 of Part 3 as earnings from such employment, less

(b)the aggregate of any excluded amounts.

(2)But if the employee becomes employed by the employer during the tax year, what would otherwise be the amount of the aggregate mentioned in subsection (1)(a) is the relevant multiple of that amount; and the relevant multiple is—

where RD is the number of days in the period beginning with the day on which the employee becomes employed by the employer and ending with the tax year.

(3)In subsection (1)(a) “relevant earnings” means—

(a)salary, wages or fees, and

(b)any other earnings specified in regulations made by the Treasury under this paragraph.

(4)In subsection (1)(b) “excluded amounts” means amounts specified in regulations made by the Treasury under this subsection.

(5)In section 270A “the required time”, in the case of an employee, means—

(a)if the employee joins the scheme under which the vouchers are provided at a time during the tax year, that time, and

(b)otherwise, the beginning of the tax year.

(6)For the purposes of subsection (5)(a) the employee is taken to join the scheme as soon as—

(a)the employer has agreed that vouchers will be provided under the scheme for the employee, and

(b)there is a child falling within section 270A(3)(a) or (b) in relation to the employee.

(7)The Treasury may by order amend this section.]

Textual Amendments

F1S. 270B inserted (with effect in accordance with Sch. 8 paras. 7-10 of the amending Act) by Finance Act 2011 (c. 11), Sch. 8 para. 3

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?