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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. Termination awards not benefiting from threshold to be treated as earnings

Section 402B | Termination awards not benefiting from threshold to be treated as earnings F1

From legislation.gov.uk

(1)The amount of a termination award to which this section applies—

(a)is treated as an amount of earnings of the employee, or former employee, from the employment ,...F2

(b)Repealed

(2)See also section 7(3)(b) and (5)(ca) (which cause amounts treated as earnings under this section to be included in general earnings).

(3)Section 403(3) (when benefits are received) does not apply in relation to payments or other benefits to which this section applies.

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)

  2. F2

    Words in s. 402B(1) renumbered as s. 402B(1)(a) (with effect in accordance with s. 22(8) of the amending Act) by Finance Act 2021 (c. 26), s. 22(6)(a)

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