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Changes over time for: Section 504


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 03/08/2005.
Changes to legislation:
Income Tax (Earnings and Pensions) Act 2003, Section 504 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.

Changes to Legislation
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504Charge on cancellation payments in respect of partnership share agreementU.K.
This section has no associated Explanatory Notes
(1)This section applies if an individual who has entered into a partnership share agreement receives any money or money’s worth in respect of the cancellation of the agreement.
(2)The amount of the money or the value of the money’s worth counts as employment income of the individual for the relevant tax year.
(3)The “relevant tax year” is the tax year in which the individual receives the money or money’s worth.
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