Part 6Employment income: income which is not earnings or share-related
Chapter 3Payments and benefits on termination of employment etc.
Payments and benefits treated as employment income
F1402BTermination awards not benefiting from threshold to be treated as earnings
(1)
The amount of a termination award to which this section applies is treated as an amount of earnings of the employee, or former employee, from the employment.
(2)
See also section 7(3)(b) and (5)(ca) (which cause amounts treated as earnings under this section to be included in general earnings).
(3)
Section 403(3) (when benefits are received) does not apply in relation to payments or other benefits to which this section applies.