SCHEDULE 6 Employment Income Provided Through Third Parties
Finance Act 2017 (2017 c 10) | Legislation

SCHEDULE 6 Employment Income Provided Through Third Parties

Section 15

Introductory

1

Part 7A of ITEPA 2003 (employment income provided through third parties) is amended in accordance with paragraphs 2 to 11.

Meaning of “relevant stepâ€

2

In section 554A(2) (meaning of “relevantâ€) at the end insert “(including such a step where the taking of the step, or some aspect of the taking of the step, constitutes a breach of trust or is a constituent part of a breach of trust, and even if the step or aspect is void as a result of breach of trust).

Loans: transferring, releasing or writing off

3

(1)     Section 554C (relevant steps: payment of sum, transfer of asset etc) is amended as follows.

(2)     In subsection (1), after paragraph (a) insert—

“(aa)     acquires a right to a payment of a sum of money, or to a transfer of assets, where there is a connection (direct or indirect) between the acquisition of the right and—

(i)     a payment made, by way of a loan or otherwise, to a relevant person, or

(ii)     a transfer of assets to a relevant person,

(ab)     releases or writes off the whole or a part of—

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