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Income Tax (Earnings and Pensions) Act 2003

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Changes over time for: Section 312I

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Income Tax (Earnings and Pensions) Act 2003, Section 312I 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

[F1312IInterpretation of Chapter 10AU.K.

This section has no associated Explanatory Notes

(1)In this Chapter—

  • company” has the meaning given by section 170(9) of TCGA 1992;

  • trade” means any trade which is conducted on a commercial basis and with a view to the realisation of profits.

(2)In this Chapter—

(a)references to a group, to membership of a group, to the principal company of a group or to being members of the same group, are to be construed in accordance with section 170 of TCGA 1992, and

(b)references to a group are to be construed with any necessary modifications where applied to a company incorporated under the law of a country or territory outside the United Kingdom.

(3)For the purposes of this Chapter, a payment is treated as made when it would be treated as received for the purposes of Chapter 4 of Part 2 if it were not a qualifying bonus payment (see section 18).

(4)In this Chapter references to a payment to an employee or former employee include a payment to the personal representatives of an employee or former employee who has died if the payment is made within the period of 12 months beginning with the date of death.]

Textual Amendments

F1Pt. 4 Ch. 10A inserted (with effect in accordance with Sch. 37 para. 8 of the amending Act) by Finance Act 2014 (c. 26), Sch. 37 para. 5

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