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Changes over time for: Section 513


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Point in time view as at 03/08/2005.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 513 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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513Capital receipts: payments by trustees to employer companyU.K.
This section has no associated Explanatory Notes
(1)This section applies if the trustees receive a sum of money which constitutes (or forms part of) a capital receipt which, by virtue of the SIP code, counts as employment income of a participant when it is received by the participant.
(2)Out of that sum of money the trustees must pay to the employer company an amount equal to the amount of employment income.
(3)The employer company must then pay over that amount to the participant, but when doing so must make a PAYE deduction.
(4)This section is subject to section 514 (capital receipts: deductions to be made by trustees).
(5)In this section “the employer company” means—
(a)the company which employs the participant in relevant employment at the time when the trustees receive the sum mentioned in subsection (1), or
(b)if the participant is not then employed in relevant employment, the company which last employed the participant in relevant employment before that time,
so long as that company is one to which PAYE regulations apply at that time.
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