Part 3 Trading Income
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

Part 3 Trading Income

Unpaid remuneration

12

(1)     This paragraph applies for the purposes of section 36.

(2)     In relation to a period of account ending before 27th November 2002, an amount charged in the accounts in respect of employees' remuneration includes an amount which is held by an intermediary with a view to its becoming employees' remuneration.

(3)     In relation to a period of account ending on or after 27th November 2002, an amount charged in the accounts in respect of employees' remuneration includes an amount—

(a)     in respect of employee benefit contributions (within the meaning of sections 38 to 44) made before that date, and

(b)     which is held by an intermediary,

with a view to its becoming employees' remuneration.

Employee benefit contributions

13

Sections 38 to 44 do not apply to deductions that would otherwise be allowed—

(a)     for a period ending before 27th November 2002, or

(b)     in respect of employee benefit contributions made before that date.

14

(1)     In relation to any time before the coming into force of ITEPA 2003—

(a)     section 40(7) applies as if, in the definition of “employment income tax chargeâ€, for “tax under ITEPA

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