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Legislation
Income Tax (Earnings and Pensions) Act 2003

Crossheading Payments and benefits treated as employment income

  • Section 402A Split of payments and other benefits between sections 402B and 403
  • Section 402B Termination awards not benefiting from threshold to be treated as earnings
  • Section 402C The termination awards to which section 402B applies
  • Section 402D “Post-employment notice pay”
  • Section 402E Meaning of “trigger date” and “post-employment notice period” in section 402D
  • Section 403 Charge on payment or other benefit where threshold applies
  • Section 404 How the £30,000 threshold applies
  • Section 404A Amounts charged to be treated as highest part of total income
  • Section 404B Power to vary threshold
  1. Payments and benefits treated as employment income
  2. Split of payments and other benefits between sections 402B and 403

Section 402A | Split of payments and other benefits between sections 402B and 403 F1

From legislation.gov.uk

(1)In this Chapter “termination award” means a payment or other benefit to which this Chapter applies because of section 401(1)(a).

(2)Section 402B (termination awards not benefiting from threshold treated as earnings) applies to termination awards to the extent determined under section 402C.

(3)Section 403 (charge on payment or benefit where threshold applies) applies to termination awards so far as they are not ones to which section 402B applies.

(4)Section 403 also applies to payments and other benefits to which this Chapter applies because of section 401(1)(b) or (c) (change in duties or earnings).

Notes

  1. F1

    Ss. 402A-402E inserted (with effect in accordance with s. 5(10) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), s. 5(3)

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