Part 3Employment income: earnings and benefits etc. treated as earnings
Chapter 12Payments treated as earnings
226Valuable consideration given for restrictive undertakings
1
In a case where—
a
an individual gives a restrictive undertaking in connection with the individual’s current, future or past employment, and
b
valuable consideration that is not in the form of money is provided in respect of—
i
the giving of the undertaking, or
ii
the total or partial fulfilment of the undertaking,
section 225 applies as it would if a payment of an amount equal to the value of the consideration had been made instead.
2
For this purpose—
a
merely assuming an obligation to make over or provide valuable property, rights or advantages is not valuable consideration, but
b
wholly or partially discharging such an obligation is.