Part 16 U.K. Companies with investment business

Chapter 3 U.K. Amounts treated as expenses of management

Payments for restrictive undertakings U.K.

1234 Payments for restrictive undertakings U.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.