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

Example 3

Ne = £5,000; Da = 183; De = 183; Smg = 0

Part 6: Employment income: income which is not earnings or share-related

Chapter 2: Benefits from non-approved schemes

Overview

Section 393: Application of this Chapter

1695. This section defines the scope of the Chapter. The Chapter applies to any benefit provided by a non-approved retirement benefits scheme other than pensions and annuities within the pension income Part. Subsection (1) derives from section 596A(1) of ICTA. Subsection (2) derives from section 596A(6) of ICTA.

1696. Section 596A(7) of ICTA has not been rewritten in this Act. See Note 40 in Annex 2.