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Legislation
Income Tax (Earnings and Pensions) Act 2003

Crossheading Exclusions

  • Section 554E Exclusions: steps under certain schemes etc
  • Section 554F Exclusions: commercial transactions
  • Section 554G Exclusions: transactions under employee benefit packages
  • Section 554H Exclusions: earmarking of deferred remuneration
  • Section 554I Exclusions: introduction to sections 554J to 554M
  • Section 554J Exclusions: earmarking for employee share schemes (1)
  • Section 554K Exclusions: earmarking for employee share schemes (2)
  • Section 554L Exclusions: earmarking for employee share schemes (3)
  • Section 554M Exclusions: earmarking for employee share schemes (4)
  • Section 554N Exclusions: other cases involving employment-related securities etc
  • Section 554O Exclusions: employee car ownership schemes
  • Section 554OA Exclusions: transfer of employment-related loans
  • Section 554P Exclusions: employment income exemptions under Part 4
  • Section 554Q Exclusions: income arising from earmarked sum or asset
  • Section 554R Exclusions: acquisitions out of sums or assets
  • Section 554RA Exclusions: relevant repayments
  • Section 554S Exclusions: pension income chargeable under Part 9 etc
  • Section 554T Exclusions: employee pension contributions
  • Section 554U Exclusions: pre-6 April 2006 contributions to employer-financed retirement benefit schemes
  • Section 554V Exclusions: purchases of annuities out of pension scheme rights
  • Section 554W Exclusions: certain retirement benefits etc
  • Section 554X Exclusions: transfers between certain foreign pension schemes
  • Section 554XA Exclusions: payments in respect of a tax liability
  • Section 554Y Power to exclude other relevant steps
  1. Exclusions
  2. Exclusions: payments in respect of a tax liability

Section 554XA | Exclusions: payments in respect of a tax liability F1F2

From legislation.gov.uk

(1)Chapter 2 does not apply by reason of a relevant step which is the payment of a sum of money if—F1F2

(a)the payment is a relevant tax payment, orF1F2

(b)where the payment is not a relevant tax payment—F1F2

(i)the payment is made to a person for the purpose of the person making a relevant tax payment,F1F2

(ii)the person makes a relevant tax payment of an amount equal to the amount of the first payment, andF1F2

(iii)the relevant tax payment is made before the end of the period of 60 days beginning with the day on which the first payment is made.F1F2

(2)“Relevant tax payment” means a payment made to Her Majesty's Revenue and Customs in respect of a relevant liability for—F1F2

(a)RepealedF1F2

(b)RepealedF1F2

(c)inheritance tax, orF1F2

(d)corporation tax.F1F2

(3)But a provisional payment of tax (see section 554Z11D) is not a relevant tax payment.F1F2

(4)A liability is a “relevant liability” if—F1F2

(a)under the terms of an agreement for the discharge of the liability, orF1F2

(b)by way of a decision on an application under this section,F1F2

an officer of Revenue and Customs agrees that the liability is to be treated as arising in respect of the relevant arrangement concerned.

(5)A person may make an application to Her Majesty's Revenue and Customs for a liability to be treated, for the purposes of this section, as arising in respect of the relevant arrangement concerned.F1F2

(6)An application under this section must be made in such form and manner, and contain such information, as may be specified by, or on behalf of, the Commissioners for Her Majesty's Revenue and Customs.F1F2

(7)An officer of Revenue and Customs must notify the applicant of the decision on an application under this section.F1F2

Notes

  1. F1

    Pt. 7A inserted (with effect in accordance with Sch. 2 paras. 52-59 of the amending Act) by Finance Act 2011 (c. 11), Sch. 2 para. 1

  2. F2

    S. 554XA inserted (with effect in accordance with Sch. 6 para. 13 of the amending Act) by Finance Act 2017 (c. 10), Sch. 6 para. 9

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