Income Tax (Earnings and Pensions) Act 2003(c. 1) - Explanatory Notes

Explanatory Notes

Income Tax (Earnings and Pensions) Act 2003

2003 CHAPTER 1

6th March 2003

Commentary on Sections

Glossary

Part 3: Employment income: earnings and benefits etc. treated as earnings

Chapter 2: Taxable benefits: the benefits code

Overview

Section 68: Meaning of “material interest” in a company

274. This section provides the definition of “material interest” in a company for the purposes of the benefits code. It derives from section 168(11) of ICTA.