Amendment of the Tax Credits (Definition and Calculation of Income) Regulations 2002
This section has no associated Explanatory Memorandum
5. In Table 1 in regulation 4(4) of the Tax Credits (Definition and Calculation of Income) Regulations 2002(1), after the final entry, insert—
“22. The payment of a qualifying bonus within section 312A of ITEPA(2) (limited exemption for qualifying bonus payments).”.
(1)
S.I. 2002/2006; relevant amending instruments are S.I. 2012/848 and S.I. 2013/388.
(2)
Regulation 2(2) of S.I. 2002/2006 defines “ITEPA” as the Income Tax (Earnings and Pensions) Act 2003 (c. 1). Section 312A was inserted by paragraphs 5 and 8 of Schedule 37(2) to the Finance Act 2014 and has effect in relation to payments received on or after 1st October 2014).