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Legislation
Income Tax (Earnings and Pensions) Act 2003

Crossheading Alteration of amounts

  • Section 716 Alteration of amounts by Treasury order
  1. Alteration of amounts
  2. Alteration of amounts by Treasury order

Section 716 | Alteration of amounts by Treasury order

From legislation.gov.uk

(1)The Treasury may by order increase or further increase the sums of money specified in any of the following provisions.

(2)They are—

(a)section 179(2)(a) (limit on exception for advances for necessary expenses),

(b)section 241(3)(a) and (b) (incidental overnight expenses: overall exemption limit),

(c)section 264(2) and (3) (annual parties and functions),

(d)section 287(1) (limit on exemption under Chapter 7 of Part 4: removal benefits and expenses),

(e)section 322(1) and (4) (suggestion awards: “the permitted maximum”),

(f)section 323(2) (long service awards),

(fa)section 323A(4) (trivial benefits provided by employers: cost of providing benefit),F1

(fb)section 323B(2) (trivial benefits provided by employers: annual exempt amount),F1

(g)section 324(6) (small gifts from third parties), and

(h)section 358(3)(b) (business entertainment and gifts: other exceptions).

(3)An order relating to section 241(3)(a) or (b) may make provision for determining what earnings are treated as received on or after the date when the order comes into force.

(4)An order relating to section 287(1) applies to a change of an employee’s residence where the employment change occurs on or after the day specified in the order for the purpose.

Notes

  1. F1

    S. 716(2)(fa)(fb) inserted (with effect in accordance with s. 13(5) of the amending Act) by Finance Act 2016 (c. 24), s. 13(3)

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