Valid from 01/04/2009
Payments for restrictive undertakingsU.K.
1234Payments for restrictive undertakingsU.K.
(1)This section applies if a payment—
(a)is treated as earnings of an employee by virtue of section 225 of ITEPA 2003 (payments for restrictive undertakings), and
(b)is made, or treated as made for the purposes of section 226 of that Act (valuable consideration given for restrictive undertakings), by a company with investment business.
(2)The payment is treated for the purposes of Chapter 2 as expenses of management.