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Income Tax (Earnings and Pensions) Act 2003

Paragraphs 157 and 158

3624.These paragraphs amend sections 43 and 44 of FA 1989.

3625.Sections 43 and 44 were introduced as part of the changes made to put the assessment of employment income on a receipts basis. Broadly, they prevent a deduction for employees’ pay unless it is paid during the period of account or within nine months after its end. As such, they align more closely the timing of the trading or investment company deduction with that of the charge to tax on the employee.

3626.Both sections contain numerous references to “emoluments”.

3627.Rather than making a whole series of consequential amendments replacing the term “emoluments” wherever it occurs in sections 43 and 44 FA 1989 these paragraphs replace each of these two sections with a complete rewrite.

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