SCHEDULE 3PAYMENTS TO BE DISREGARDED IN THE CALCULATION OF EARNINGS FOR THE PURPOSES OF EARNINGS-RELATED CONTRIBUTIONS

PART IIIPAYMENTS BY WAY OF READILY CONVERTIBLE ASSETS NOT DISREGARDED AS PAYMENTS IN KIND

1

A readily convertible asset.

For the purposes of this paragraph, subsections (3A) to 6 of section 203F of the Taxes Act (PAYE: readily convertible assets)170, apply as they apply for the purposes of that section.

2

An asset which, in accordance with the provisions of section 203F of the Taxes Act (PAYE: enhancing the value of an asset)171, would be treated as a readily convertible asset for the purposes of section 203F of that Act.

3

Any voucher, stamp or similar document—

a

whether used singularly or together with other such vouchers, stamps or documents; and

b

which is capable of being exchanged for an asset falling within paragraph 1 or 2.